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Stock Z has a Beta of 1.21. The Market Risk Premium is estimated to be 5%, and the estimated rate on Treasury Bonds is 3%.

Stock Z has a Beta of 1.21. The Market Risk Premium is estimated to be 5%, and the estimated rate on Treasury Bonds is 3%. The CAPM required return for Stock Z is _______%.

Rounding and Formatting instructions: Do not round any intermediate work, but round your *final* response to 2 decimal places

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