Assume that you are given the following partial covariance and correlation matrices for Securities J, K and the Market. Also assume that the expected risk-free rate for the coming year is 3.0 percent and that the expected risk premium on the market is 7.0 percent. Given this information, determine the required rate of return for Security K for the coming year, using CAPM. Correlation K Market J K 0.44 Market 0.86 0.64 1.00 Covariance K Market J 0.014400 K 0.016900 Market 0.003600 Standard Market K Deviation 15 18%