Assume that you manage an $$11\mathrm{.}00$ million mutual fund that has a beta of $1\mathrm{.}25$ and a $9\mathrm{.}50\%$ required return. The risk$-$free rate is $2\mathrm{.}20\%.$ You now receive another $$14\mathrm{.}00$ million, which you invest in stocks with an average beta of $0\mathrm{.}75.$ What is the required rate of return on the new portfolio? $($Hint: You must first find the market risk premium, then find the new portfolio beta.$)$ Do not round your intermediate calculations.

a$.9\mathrm{.}08\%$

b$.7\mathrm{.}86\%$

c$.8\mathrm{.}68\%$

d$.7\mathrm{.}37\%$

e$.9\mathrm{.}57\%$