ABC Company holds a well-diversified portfolio in the amount of $90,000 that has an expected return of 11.0% and a beta of 1.23. It is buying 1,000 shares of DEF Company stock at $10 a share and adding them to its portfolio. DEF Company has an expected return of 13.0% and a beta of 1.39. Currently, the risk free rate is 2.5%, and the stock market return is 7.19%. What will the required rate of return on the new portfolio be after the purchase of DEF stock? Round your answer to two decimal places of percentage, but do not enter % in your answer, e.g., xx.xx. (Hint: Compute the new portfolio beta first and then the RRR using the CAPM.)