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Suppose TikTok's parent company, ByteDance's stock has a beta of 1 . 2 8 and the nominal risk - free rate is 3 % .

Suppose TikTok's parent company, ByteDance's stock has a beta of

1.28

and the nominal risk

-

free rate is

3 % .

If the average market return is

11 %

what is the required return of the stock?

(

Round your answer to two decimal point

)

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