You are analyzing a common stock with a beta of 0.4. 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 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.)