Acompany's competitive strategy select one: a. specifies the portfolio of new products that it will try to develop. b. determines the nature of procurement and transportation of materials as well as manufacture and distribution of the product. c. defines the set of customer needs that it seeks to satisfy through its products and services. d. specifies how the market will be segmented and how the product will be positioned, priced, and promoted.

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.