Partridge Plastic's stock has an estimated beta of 1.4, and its required rate of return is 11.32 percent. Cleaver Motors' stock has a beta of 1.2, and the risk - free rate is 4.6 percent. What is the required rate of return on Cleaver Motors' stock? [HINT: First, use Partridge's information to find the Market Risk Premium. Then use that MRP to figure the required rate of return on Cleaver. Express your answer as a decimal, with at least four digits to the right of the decimal! (0.1234)]