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A stock has an expected return of 13 percent, its beta is 1.45, and the expected return on the market is 10.5 percent. What must

A stock has an expected return of 13 percent, its beta is 1.45, and the expected return on the market is 10.5 percent. What must the risk-free rate be? (Round your answer to 2 decimal places. (e.g., 32.16))

Risk-free rate= ___________ %

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