You purchase 100 shares of stock for $50 a share. The stock pays a $3 per share dividend at year-end.

b.	What is your real (inflation-adjusted) rate of return if the inflation rate is 5%? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.)

Stock price	Real rate of return
$47	%
$50	%
$53	%