An analyst gathered the following information for a stock and market parameters: - stock beta =0.88 - expected return on the Market =9.29%; - expected return on T-bills =1.59%; - current stock Price =$9.97; - expected stock price in one year =$10.96; - expected dividend payment next year =$1.22. Calculate the required return for this stock. Please share your answer as a percentage rounded to 2 decimal places