Consider the following information on large-company stocks for a period of years.

	Arithmetic Mean
Large-company stocks	12.5	%
Inflation	3.7

a.	What was the arithmetic average annual return on large-company stocks in nominal terms? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
b.	What was the arithmetic average annual return on large-company stocks in real terms? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

a.	Nominal return		____%
b.	Real return		____%