You are the manager of a team of analysts working for a major bank. Your team approaches you with a potential project they think the bank should invest in. They present evidence to you that the proposed project has a beta of 1.31. The Tbill rate is 3% (risk-free rate) and the return on the market is 14%. What is the appropriate expected return on the new project? (Answer as a percentage and round to 2 decimals.) a. 16.41% b. 17.41% c. 18.51% d. 20.30%