An individual actually earned a $5$ percent nominal return last year. Prices went up by $4$ percent over the year. Given that the investment income was subject to a federal tax rate of $28$ percent and a state and local tax rate of $8$ percent, what was the investor's actual real after$-$tax rate of return?

Multiple Choice

$0\mathrm{.}80\%$

$0\mathrm{.}80\%$

$0\mathrm{.}92\%$

$1\mathrm{.}24\%$

$2\mathrm{.}08\%$