Nagel Equipment has a beta o o 88 and an expected dividend growth rate of 4.00% per year. The T bin rate is 4.00%, and the T-bond rate s 5.25% The annual return on the stock market during the past 4 years was 10.25%. Investors expect the average annual future return on the market to be 14.75%. Using the SML, what is the firm's required rate of return? Do not round your intermediate calculations. a. 12.25% b. 12.1% ,c. 13.61% , d. 11.57% * e. 14.70%