Last year, you purchased a stock at a price of $47.10 a share. Over the course of the year, you received $2.40 per share in dividends while inflation averaged 3.4 percent. Today, you sold your shares for $49.50 a share. What is your approximate real rate of return on this investment?
A. 6.30 percent
B. 6.79 percent
C. 7.18 percent
D. 9.69 percent
E. 10.19 percent