The level of the Syldavian market index is 22,700 at the start of the year and 27,200 at the end. The dividend yield on the index is 4.9%.

a. What is the return on the index over the year? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

b. If the interest rate is 7%, what is the risk premium over the year? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

c. If the inflation rate is 8%, what is the real return on the index over the year? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)