An investor is trying to estimate the required return to purchase NWO stock. He has gathered some data, but is having trouble figuring out how to apply it to CAPM. Help the investor and calculate the required return for his investment.

Information:
90-day Treasury Bill yield	2.34%
S&P 500 Expected Return	8.78%
NWO Beta	1.36

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))