Your portfolio consists of $50,000 invested in a stock which has a beta = 0.9, $75,000 invested in a stock which has a beta = 1.2, and $25,000 invested in a stock which has a beta = 1.05. The risk-free rate is 3 percent. Last year this portfolio had a required rate of return of 9 percent. This year nothing has changed except for the fact that the market risk premium has increased by 1 percent (This year market risk premium = Last year market risk premium + 1%). What is the portfolio's current year required rate of return?

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