You purchased shares of stock one year ago at a price of $63.47 per share. During the year, you received dividend payments of $1.97 and sold the stock for $70.59 per share. If the inflation rate during the year was 2.47 percent, what was your real return?

Multiple Choice

• 10.35%

• 11.57%

• 17.15%

• 14.36%

• 8.54%