Last year, you purchased a stock at a price of $56.00 a share. Over the course of the year, you received $2.30 per share in dividends and inflation averaged 2.8 percent. Today, you sold your shares for $61.10 a share. What is your approximate real rate of return on this investment?

6.3%

10.4%

11.9%

16.0%

13.2%