The stock of Billingsley United has a beta of 0.92. The market risk premium is 8.4 percent and the risk-free rate is 3.2 percent. What is the expected return on this stock?

Choose one answer:

a. 9.69 percent

b. 10.93 percent

c. 12.01 percent

d. 8.87 percent

e. 11.52 percent