The repeal of the glass- steagall act by congress in 1999

a- paved the way for banks to sell fanatical assets such as stocks and bonds

b- allowed banks to issue credit cards

c- put an end to the gold standard

d- caused a stock market bubble

Mikkelson corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. then an increase in investor risk aversion caused the market risk premium to rise by 2%. the risk-free rate and the firm's beta remain unchanged. what is the company's new required rate of return? (hint: first calculate the beta, then find the required return.) do not round your intermediate calculations.