Fiske Roofing Supplies' stock has a beta of 1.23, its required return is 11.25%, and the risk-free rate is 4.30%. What is the required rate of return on the market? (Hint: First find the market risk premium.)

Select the correct answer.

a. 9.95%

b. 10.04%

c. 10.13%

d. 10.22%

e. 10.31%