11. Mr. Tama intends to invest in equity shares of a company the value of which depends upon various parameters as mentioned below: Factor Beta Actual return Estimated (%) return (%) GNP 1.20 7.70 6.70 Inflation 1.75 5.50 7.00 Interest rate 1.30 7.75 9.00 Stock market index 1.70 10.00 12.00 Industrial production 1.00 7.00 7.50 If the return on the equity is 9.25 percent, calculate the required rate of return using Arbitrage Pricing Theory (APT)