The following table shows the nominal returns on Brazilian stocks and the rate of inflation. Year Nominal Return (%) 2015 0.2 2016 -13.0 2017 -11.0 2018 -42.1 2019 2020 66.9 27.6 Inflation (%) 6.5 6.6 7.1 11.4 7.0 3.6 a. What was the standard deviation of the market returns? Note: Use decimals, not percents, in your calculations. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. b. Calculate the average real return. Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. a. Standard deviation b. Average real return % %

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