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A stock has a beta of 0.94 , the expected return on the market is 10.3 percent, and the risk-free rate is 4.80 percent. Required:

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A stock has a beta of 0.94 , the expected return on the market is 10.3 percent, and the risk-free rate is 4.80 percent. Required: What must the expected return on this stock be? (Do not include the percent sign (\%). Round your answer to 2 decimal places (e.g., 32.16).)

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