A stock has an expected return of 12.1 percent and a beta of 1.17, and the expected return on the market is 11.1 percent. What must the risk-free rate be? (Do not round intermediate calculations and...

A stock has an expected return of 12.1 percent and a beta of 1.17, and the expected return on the market is 11.1 percent. What must the risk-free rate be?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)