Calculate the required rate of return for Mudd Enterprises assuming that investors expect a $4\mathrm{.}5\%$ rate of inflation in the future. The real risk$-$free rate is $1\mathrm{.}5\%,$ and the market risk premium is $7\mathrm{.}5\%.$ Mudd has a beta of $2\mathrm{.}1,$ and its realized rate of return has averaged $9\mathrm{.}0\%$ over the past $5$ years. Round your answer to two decimal places.

$\%$rate of return has averaged $9\mathrm{.}0\%$ over the past $5$ years. Round your answer to two decimal places.

$\%$