Pandora Incorporation's stock has a beta of 0.94, its required return is 11.49%, and the risk-free rate is 4.25%. What is the required rate of return on the market? Round your intermediate calculations to at least 4 decimal places. 11.95% 16.47% 10.70% 7.70% 12.22% Dayton Inc. has a beta of 1.46, the real risk-free rate is 1.25%, investors expect a 5.00% future inflation rate, and the market risk premium is 8.50%. What is Dayton's required rate of return? 20.96% 19.71% 21.54% 17.41% 18.66%