Breckenridge, Inc., has a beta of 0.87. If the expected market return is 12.5 percent and the risk-free rate is 5.5 percent, what is the appropriate expected return of Breckenridge (using the CAPM)?

(Capital Asset Pricing Model) Breckenridge, Inc., has a beta of 0.87. If the expected market return is 12.5 percent and the risk-free rate is 5.5 percent, what is the appropriate expected return of Breckenridge (using the CAPM)? The appropriate expected return of Breckenridge is %. (Round to two decimal places.)