Calculate the required rate of return for Climax Inc., assuming that

$(1)$ Investors expect a $4\mathrm{.}0\%$ rate of inflation in the future, $(2)$ the real

Risk$-$free rate is $3\mathrm{.}0\%,(3)$ the market risk premium is $5\mathrm{.}0\%,(4)$ the firm

Has a beta of $1\mathrm{.}00,$ and $(5)$ it$$s realized rate of return has averaged $15\mathrm{.}0\%$

Over the last $5$ years.