Suppose that two factors have been identified for the U$.$S$.$ economy: the growth rate of industrial production, IP$,$ and the inflation rate, IR$.$ IP is expected to be $5\%,$ and IR $4\mathrm{.}0\%.$ A stock with a beta of $1\mathrm{.}2$ on IP and $\mathrm{.}6$ on IR currently is expected to provide a rate of return of $8\%.$ If industrial production actually grows by $6\%,$ while the inflation rate turns out to be $6\%,$ what is your revised estimate of the expected rate of return on the stock?