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A stock has an expected return of 12.15%, its beta is 1.31, and the expected return on the market is 10.2%. What must the risk-free

A stock has an expected return of 12.15%, its beta is 1.31, and the expected return on the market is 10.2%. What must the risk-free rate be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

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