#7) The variance of the market returns is 0.0690, and the covariance of the returns on Sandhill stock and the market is 0.11040. If the risk-free rate is 7.3 percent and the market risk premium is 9.3 percent, what is the required rate of return of Sandhill? (Round answer to 2 decimal places, e.g. 2.36%.)

Required rate of return ____ %