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A stock has an expected return of 13.4 percent and a beta of 1.15 , and the expected return on the market is 12.4 percent.

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A stock has an expected return of 13.4 percent and a beta of 1.15 , and the expected return on the market is 12.4 percent. What must the risk-free rate be? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.9., 32.16

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