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Shares in Rioja Enterprises were priced at $4.45 at the beginning of the year. At the end of the year the price had dropped to

Shares in Rioja Enterprises were priced at $4.45 at the beginning of the year. At the end of the year the price had dropped to $4.30 and the company had paid a dividend of $0.26. What is the total real return if inflation was 3%? A) 5.84%. B) -3.37%. C) 2.47%. D) -0.53%.

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