An analyst gathered the following information for a stock and market parameters: stock beta= 1.03; expected return on the Market = 11.24%; expected return on T-bills = 4.05%; current stock Price = $8.03; expected stock price in one year = $14.55; expected dividend payment next year = $3.44. Calculate the expected return for this stock. Please share your answer as a percentage rounded to 2 decimal places.