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A firm's stock is currently trading for $44.05 and has a beta of 1.24. The risk-free rate of return is 1.5%, and the market return

A firm's stock is currently trading for $44.05 and has a beta of 1.24. The risk-free rate of return is 1.5%, and the market return is expected to be 7.8%. What is the expected return on the firm's stock? Round your answer to the nearest one-hundredth of a percent. Do not enter the percentage symbol.

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