$5.$ Problem $8\mathrm{.}07($Portfolio Required Return$)$

Suppose you are the money manager of a $$4\mathrm{.}48$ million investment fund. The fund consists of four stocks with the following investments and betas:

Stock Investment Beta

A $ $340,0001\mathrm{.}50$

B $700,000(0\mathrm{.}50)$

C $940,0001\mathrm{.}25$

D $2,500,0000\mathrm{.}75$

If the market's required rate of return is $11\%$ and the risk$-$free rate is $5\%,$ what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

$\%$