You are pondering over the valuation of your firm which is operating in a new do- main offering vegan meat, which is meat products made out of vegetables. The main challenge is to arrive at the estimate of a fair expected return on your eq- uity capital. Your firm is an all equity firm with diffused ownership (many num- ber of shareholders). You understand that only the systematic component of the risk of the cashflows of a firm are compensated by the market. Hence you choose to evaluate the sensitivity of similar firms in other countries. You got the follow- ing estimate of betas from your research, 1.8, 1.9, 1.5, 2.2, 1.85, and 1.4. If the equity market in India is giving an average return of 14% and the nominal yields for the 10 year treasury securities are at 6.5%, what is the expected return that you should consider in the valuation of your firm?