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 $2\mathrm{.}1$ on IP and $1\mathrm{.}4$ on IR currently is expected to provide a rate of return of $18\%.$ If industrial production actually grows by $6\%,$ while the inflation rate turns out to be $5\mathrm{.}8\%,$ what is your revised estimate of the expected rate of return on the stock?

Note: Do not round intermediate calculations. Round your answer to $1$ decimal place.