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You are examining an investment you made on behalf of your company. Looking at your financial statements, you see that the return is reported as

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You are examining an investment you made on behalf of your company. Looking at your financial statements, you see that the return is reported as 15%. You researched and saw that the inflation rate last year was 3.5%. What was your real return? Do not use the estimate or approximate rate. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Real return %

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