You are analyzing a common stock with a beta of 0.7 . The risk-free rate of interest is 3 percent and the market risk premium is 9 percent. What is the stock's equilibrium required rate of retum? Round to the nearset hundredth percent. Answer in the percent format. Do not include % sign in your answer (L.e. If your answer is $.33%, type 4.33 without a % sign at the end.)