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 equity capital. Your firm is an all equity firm with diffused ownership (many number 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 following 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?