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You bought one of Mastadon Manufacturing Co.s 7 percent coupon bonds one year ago for $1,045. These bonds make annual payments, mature twelve years from

You bought one of Mastadon Manufacturing Co.s 7 percent coupon bonds one year ago for $1,045. These bonds make annual payments, mature twelve years from now, and have a par value of $1,000. Suppose you decide to sell your bonds today, when the required return on the bonds is 6 percent. If the inflation rate was 3.2 percent over the past year, what would be your total real return on the investment? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Total real return %

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