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Say you own an asset that had a total return last year of 15 percent. Assume the inflation rate last year was 4.3 percent. Required:

Say you own an asset that had a total return last year of 15 percent. Assume the inflation rate last year was 4.3 percent.

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What was your real return? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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