You are considering the purchase of 200 shares of Flotany Corp. common stock. The stock currently has a listed beta of 2.5. You believe that you can obtain a return on the market portfolio of 11.01% and a return on the risk-free asset of 3.96%. Based on the CAPM, what should be the required rate of return on Floatany Corp. common stock? Submit your final answer as a percentage rounded to two decimal places (Ex. 0.00%).