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AA Corporation's stock has a beta of 1.3. The risk-free rate is 3%, and the expected return on the market is 12%. What is the

AA Corporation's stock has a beta of 1.3. The risk-free rate is 3%, and the expected return on the market is 12%. What is the required rate of return on AA's stock? Do not round intermediate calculations. Round your answer to one decimal place.

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