Nagel Equipment has a beta of $0\mathrm{.}84$ and an expected dividend growth rate of $4\mathrm{.}00\%$ per year. The T$-$bill rate is $4\mathrm{.}00\%,$ and the T$-$bond rate is $5\mathrm{.}00\%.$ The annual return on the stock market during the past $4$ years was $10\mathrm{.}25\%.$ Investors expect the average annual future return on the market to be $14\mathrm{.}00\%.$ Using the SML$,$ what is the firm's required rate of return? Do not round your intermediate calculations.

a$.12\mathrm{.}56\%$

b$.12\mathrm{.}40\%$

c$.9\mathrm{.}41\%$

d$.16\mathrm{.}56\%$

e$.11\mathrm{.}76\%$