Bora purchased 600 shares of ABC Company at a price of $77.40 a share and sold the shares for $80.20 each. He also received 720 in dividends. If the inflation rate was 3.9 percent, what was his exact real rate of return on this investment? O a. 2.97 percent O b. 1.97 percent O c. 3.45 percent O d. 1.22 percent O e. 2.21 percent