Strong Tech Corp. has a beta of 0.88 and an expected dividend growth rate of 4.00% per year. The T-bill rate is 4.00% and the T-bond rate is 5.25%. The annual return on the stock market during the past 4 years was 10.25%. Investors expect the average annual future return on the market to be 14.75%. Using the Capital Asset Pricing Model (CAPM), what is the firm's required rate of return? (SHOW ALL WORK)