Quantitative Problem: You are given the following information for Wine and Cork Enterprises $($WCE$)$:

$rR{F}^{RF}=3\%$;$r{M}_M=9\%$;$R{P}_M=6\%,$ and beta $=1$

What is WCE's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

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