You purchase 120 shares of stock for $51 a share. The stock pays a $7 per share dividend at year-end. What is the rate of return on your investment for these end-of-year stock prices? What is your real (inflation-adjusted) rate of return? Assume an inflation rate of 5%. (Round your answers to 2 decimal places. Use the minus sign for negative numbers if it is necessary.)

a. nd-of-year stock price = $46

Rate of return %
Real rate %

b. nd-of-year stock price = $51

Rate of return %
Real rate %

c. nd-of-year stock price = $58

Rate of return %
Real rate %