Calculate the required rate of return for Mudd Enterprises assuming that investors expect a $5\mathrm{.}0\%$ rate of inflation in the future. The real risk$-$free rate is $1\mathrm{.}0\%,$ and the market risk premium is $6\mathrm{.}5\%.$ Mudd has a beta of $1\mathrm{.}4,$ and its realized rate of return has averaged $12\mathrm{.}0\%$ over the past $5$ years. Round your answer to two decimal places.