Required return on Stock $=$ Risk$-$free return $+($Market risk premium$)($Stock$\text{'}$s beta$)$

Quantitative Problem: You are given the following information for wine and Cork Enterprises $($WCE$)$:

$r_{RF}=5\%$;$r_M=10\%$;$R{P}_M=5\%,$ and beta $=1\mathrm{.}3$

What is WCE's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

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