Assume the risk free rate is 4 percent, the required rate of return on the market portfolio is 15 percent, and the reported beta for a medical device manufacturer is 1.7. Under the capital asset pricing model, the required rate of return on the stock of the medical device manufacturer is

a. 29.5 percent

b. 32.3 percent

c. 18.7 percent

d. 15.0 percent

e. 22.7 percent