You are calculating the required rate of return for BBC's equity. It has a beta of 1.20. The Treasury rate is 3.4% and the market offers a premium over risk-free rate of 5%. What is the required rate of return for the equity? Round to the nearest 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.)