Last year, you purchased a stock at a price of $50 a share. Over the course of the year, you received $1.6 in dividends and inflation averaged 2.9 percent. Today, you sold your shares for $54.5 a share. What is your approximate real rate of return on this investment (note: normally you would use the "Fisher Effect Formula", but in this case please use the "approximation formula"?

9.3 percent

12.2 percent

14.7 percent

15.1 percent

4.6 percent