Suppose you observe the following situation:

$\backslash$table$[[$Security$,$Beta,Expected Return$],[$Pete Corporation,$1\mathrm{.}95,\mathrm{.}205],[$Repete Company,$1\mathrm{.}64,\mathrm{.}178]]$

a$.$ Assume these securities are correctly priced. Based on the CAPM, what is the expected return on the market? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the risk$-$free rate? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.

$\backslash$table$[[$a$.$ Expected return on market,$11\mathrm{.}70\%,],[$b$.$ Risk$-$free rate,$3\mathrm{.}00ox,\%$