A stock has a required return of 13%; the risk-free rate is 6%; and the market risk premium is 6%.

New stock's required rate of return will be _____ %. Round your answer to two decimal places.

PORTFOLIO REQUIRED RETURN Suppose you are the money manager of a $4.74 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment Beta $ 220,000 1.50 440,000 (0.50) 1,180,000 1.25 2,900,000 0.75 If the market's required rate of return is 10% 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. CU O