You purchase 100 shares of stock for $25 a share. The stock pays a $2 per share dividend at year-end.

a. What is the rate of return on your investment if the end-of-year stock price is(i) $23; (ii) $25; (iii) $26? (Leave no cells blank-be certain to enter "0" wherever required. Enter your answers as a whole percent)

b. What is your real (inflation-adjusted) rate of return if the inflation rate is 5%? ( Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.)