Imagine that you are an investor who is contemplating whether to purchase a stock which is valued at $100 per share to today that pays a 3% annual dividend. The stock has a beta compared with the market of 1.3, which indicates that it is riskier than a market portfolio. Keep in mind also that the risk free rate is 3% and that you would expected the market to rise in value by 8% per year. What is the expected return of the stock using the CAPM formula