You purchase 130 shares of stock for $53 a share. The stock pays a $3 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 4%. (Round your answers to 2 decimal places. Use the minus sign for negative numbers if it is necessary.)

a. nd-of-year stock price = $49

Rate of return % ?

Real rate % ?

b. nd-of-year stock price = $53

Rate of return % ?

Real rate % ?