Mikkelson Corporation's stock had a required return of 12.00% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. Then an increase in investor risk version caused the market risk premium to rise by 2%. The risk-frce rate and the firm's beta remain unchanged. What is the company's new required rate of retum? (Hint: First calculate the beta, then find the required return.) Do not round your intermediate culeulations. 16.26% 15.799 13.42% 18.32 15.63%