6-9 Portfolio Required Return Suppose you manage a $5.305 million fund that consists of four stocks with the following investments: Stock Investment Beta A $440,000 1.50 B 575,000 -0.50 C 1,340,000 1.25 D 2,950,000 0.75 If the market's required rate of return is 13% and the risk-free rate is 7%, what is the fund's required rate of return? Round your answer to two decimal places