Problem $6-20($Algo$)$

Required:

Investors expect the market rate of return this year to be $13\mathrm{.}00\%.$ The expected rate of return on a stock with a beta of $1\mathrm{.}6$ is currently $20\mathrm{.}80\%.$ If the market return this year turns out to be $11\mathrm{.}40\%,$ how would you revise your expectation of the rate of return on the stock? $($Do not round intermediate calculations. Round your answer to $1$ decimal place.$)$

Revised rate of return

$\%$