Piedmont Hotels is an all-equity company. Its stock has a beta of 91. The market risk premium is 77 percent and the risk free rate is 3.7 percent. The company is considering a project that it considers riskler than its current operations so it wants to apply an adjustment of 2.5 percent to the project's discount rate. What should the firm set as the required rate of return for the project? Multiple Choice 9.845 13.21% 734% 10.71% 8.21%