You are analyzing a common stock with a beta of 2.8. The risk-free rate of interest is 5 N percent and the expected return on the market is 10 percent. What is the stock's equilibrium required rate of return? Round to the nearset hundredth percent. Answer in the percent format. Do not include % sign in your answer (i.e. If your answer is 4.33%, type 4.33 without a % sign at the end.)