You have gathered the following information on the MW Corp & the IR Corp:

1. Security: MW Corp

beta; 1.30

Expected /Required Return: 14.9%

1. Security: IR Corp

beta; 0.80

Expected /Required Return: 10.4%

Assume that these securities lie on the SML. Based on the CAPM, what is the expected return on the market(%).

(please don't type "%", e.g. if you think the answer is 10%, please type "10" instead of "10%"