You purchase $100$ shares of stock for $$40$ a share. The stock pays a $$4$ per share dividend at year$-$end.

What is the rate of return on your investment if the end$-$of$-$year stock price is $($i$)$ $$36$; $($ii$)$ $$40$; $($iii$)$ $$42?$

What is your real $($inflation$-$adjusted$)$ rate of return if the inflation rate is $9\%?$