Problem $6-12$ Nominal versus Real Returns $[$LO $4]$

Say you own an asset that had a total return last year of $16$ percent. Assume the inflation rate last year was $4\mathrm{.}2$ percent. What was your real return?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Real return

$\%$