A researcher has determined that a two$-$factor model is

appropriate to determine the return on a stock. The factors are the

percentage change in GNP and an interest rate. GNP is expected to

grow by $4\mathrm{.}3$ percent and the interest rate is expected to be $3\mathrm{.}8$

percent. A stock has a beta of $2$ on the percentage change in GNP

and a beta of $\mathrm{.}82$ on the interest rate. If the expected rate of

return on the stock is $11$ percent, what is the revised expected

return on the stock if GNP actually grows by $3\mathrm{.}9$ percent and the

interest rate is $4\mathrm{.}1$ percent? $($Do not round intermediate

calculations and enter your answer as a percent rounded to $2$

decimal places, e$.$g$.,32\mathrm{.}16.)$Revised expected return $=\_\_\_\_\_\_\_\_\%$