You wish to find the intrinsic value of Hercules Mulligan Golf Supply, and have projected the dividends to use in the dividend discount model. Now you'd like to determine the appropriate discount rate, k. What is k if 90-day T-bills yield 3%, the Wilshire 5000 expected return is 10%, and an index model regression gave you an R-squared of 0.86, a slope of 1.2, and an intercept of 0.8?