The risk-free rate is currently 2.01 %. Use the following information to determine the required return for High Water, Inc.

Risk Factor	Coefficient	Price of Risk Factor
Confidence risk	1.1	2.1%
Time horizon risk	0.2	-1.5%
Inflation risk	0.5	2.5%
Business cycle risk	0.9	1.4%
Market-timing risk	0.6	1.6%

Round the final answer to two decimal places in percentage form.