Calculate the required rate of return for Mudd Enterprises assuming that investors expect a 4.1% rate of inflation in the future. The real risk-free rate is 1.5%, and the market risk premlum is 5.0%. Mudd has a beta of 2.5 , and its realized rate of return has averaged 8.0% over the past 5 years. Round your antwer to two decimal places. %