Serenity Parts is considering a new project. They believe that the project has a beta of 1.69. The T-bill rate is 2% (risk-free rate) and the S&P 500 return (which represents "market") is 16%. What is the appropriate expected return on the new project? (Answer as a percentage and round to 2 decimals.) Select one: a. 27.56% b. 27.63 % C. 24.06 % d. 28.46 % e. 25.66 %