Ritter Company's stock has a beta of 2.35, the risk-free rate is 3.75%, and the required return on the market portfolio is 11.50%. Using CAPM, what is Ritter's required rate of return? Note: Enter your answer rounded to two decimal places. Do not enter % in the answer box. For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.