You are forecasting the returns for Pina Company, a plumbing supply company, which pays a current dividend of $10.90. The dividend is expected to grow at a rate of 3.9 percent. You have identified two public companies, Grouper and Monty, which appear to be comparable to Pina. Grouper has the same total risk as Pina and a beta of 1.65. Monty, in contrast, has a very different total risk but the same market risk as Pina. Monty's beta is 1.45. The market risk premium is 4.95 percent and the risk-free rate is 1.45 percent. (a) Determine the required return for Pina using the appropriate beta. (Round answer to 3 decimal places, e.g. 3.361%.) Required return %