Question: An analyst is evaluating securities in a developing nation where the inflation rate is very high. As a result the analyst has been warned not

An analyst is evaluating securities in a developing nation where the inflation rate is very high. As a result the analyst has been warned not to ignore the cross product between the real rate and inflation. If the real risk free rate is 3% and inflation is expected to be 11% each of the next 4 years. What is the yield on a 4 year security with no maturity, default, or liquidity risk? Round your answer to two decimal places

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