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Skyler Corporation's stock had a required return of 18.50% last year, when the risk-free rate was 2.00% and the market risk premium was 9.50%. Then

Skyler Corporation's stock had a required return of 18.50% last year, when the risk-free rate was 2.00% and the market risk premium was 9.50%. Then a decrease in investor risk aversion caused the market risk premium to drop by 2%. The risk-free rate and the firm's beta remain unchanged. What is the company's new required rate of return? Do not round your intermediate calculations

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