In 2013, famous street artist, Banksy, set up an unmarked stall in New York’s Central Park selling paintings for $60. That same year at auction, similar paintings were sold for $31,200. During the year, the inflation rate was 1.5%. Suppose you were lucky enough to purchase a painting, what were the nominal and real rates of return for the paintings? a) 519.0%; 511.3%
b) 99.8%; 98.3%
c) 51,900.0%; 51,898.5%
d) 51,900.0%; 51,131.5%