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Use CAPM formula to calculate the required rate of return on the stock of TJMax Inc.. The risk-free rate is 7.0%, the market return is

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Use CAPM formula to calculate the required rate of return on the stock of TJMax Inc.. The risk-free rate is 7.0%, the market return is 12.0%, and the firm has a beta of 2.30. Round your answer to two decimal places. (you MUST show your work to earn credit)

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