Help-CFA Vol 3 Asset Allocation Reading 25 page 266

I am confused Why in stating return equirement CFA writes reaL RETURN OF 4%? Shouldn’t it be 5 % (that is spending rate)? Is n’t when we add inflation we get nominal return? I totally don’t understand logic in this paragraph

the return obj is to protect principal from inflation, so it’s 4%. the 5% is the minimum spending rate.

sorry i take that back. shouldn’t it be 1.05 * 1.04(inflation) = 1.092 -> 9.2%? this is like schweser p. 160 answer 1.

that’s exactly my point. I checked cfa errata page, its not there.