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The real rate of return on an asset is expected to be 5 . 3 % over the next year. If the price today is

The real rate of return on an asset is expected to be 5.3% over the next year. If the price today is $44.49 and the price in one year is expected to be $47.66, then what is the expected rate of inflation? (Answer as a decimal. Round to the nearest ten-thousandth).

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