3. Suppose two factors are identified for the U.S. economy: the growth rate of industrial production (IP) and the inflation rate (IR). IP is expected to be 4% and IR 6%. A stock with a beta of 1 on IP and 0.4 on IR currently is expected to provide a rate of return of 14%. If industrial production actually grows by 5%, while the inflation rate turns out to be 4%, what is your best guess for the rate of return on the stock? Your answer should be in percentage points and accurate to the hundredth.