An analyst gathered the following information for a stock and market parameters: - stock beta =1.2; - expected return on the Market =12.34%; - expected return on T-bills =4.54%; - current stock Price =$8.28; - expected stock price in one year =$11.34; - expected dividend payment next year =$4.2. Calculate the required return for this stock. Please share your answer as a percentage rounded to 2 decimal places