The risk-free rate is 4.18% and you believe that the S\&P 500 's excess return will be 11.92% over the next year. If you invest in a stock with a beta of 1.16 (and a standard deviation of 30% ), what is your best guess as to its expected excess return over the next year? The expected excess return of the stock over the next year is \%. (Round to two decimal places.)