An analyst has modeled XYZ stock using the Fama & French three factor model (FF3FM). Over the past few years the risk premium on SMB was 1.75% and the risk premium on HML was 2.95%. Regression analysis shows that XYZ’s beta coefficient on SMB is 2.5 and on HML is -1.25. If the risk–free rate is 2.25%, the market risk premium is 5.50%, and XYZ’s market beta is 2.0, what is a fair rate of return on XYZ according to the FF3FM? Please calculate the fair rate of return as a percentage. Do not enter % in the answer box. For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.