The assumptions underlying the capital asset pricing model $($CAPM$)$ hold. The returns of stock ABC have a standard deviation equal to $47\%$ and a correlation with the market portfolio returns equal to $0\mathrm{.}34.$ The market portfolio returns have a standard deviation of $16\%.$ The average coefficient of risk aversion in the economy equals $3\mathrm{.}4.$

What is the risk premium of stock ABC?