Approximate real rate of return

Question

Problem:

Last year, you purchased a stock at a price of $76.00 a share. Over the course of the year, you received $2.40 in dividends and inflation averaged 2.9 percent. Today, you sold your shares for $80.60 a share.

Required:

Question: What is your approximate real rate of return on this investment?

• 9.0
• 3.2
• 12.1
• 6.3
• 9.2

Note: Please provide full description.