Piedmont Hotels is an all$-$equity company. Its stock has a beta of $\mathrm{.}84.$ The market risk premium is $7\mathrm{.}1$ percent and the risk$-$free rate is

$4\mathrm{.}3$ percent. The company is considering a project that it considers riskier than its current operations so it wants to apply an

adjustment of $1\mathrm{.}9$ percent to the project's discount rate. What should the firm set as the required rate of return for the project?

Multiple Choice

$12\mathrm{.}16\%$

$10\mathrm{.}26\%$

$8\mathrm{.}55\%$

$8\mathrm{.}36\%$

$6\mathrm{.}65\%$