Mikkelson Corporation's stock had a required return of 12.55% last year, when the risk-free rate was 4% and the market risk premium was 4.75%. Then an increase in investor risk aversion caused the market risk premium to rise by 2 percentage points. The risk-free rate and the firm's beta remain unchanged. What is the company's new required rate of return? (Hint: First calculate the beta, then find the required return.) Do not round your intermediate calculations. a. 12.15% b. 10.75% c. 12.55% d. 16.15% e. 14.55%