If the market's required rate of return is 13% and the risk-free rate is 3%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

Portfolio required return

Suppose you are the money manager of a $4.59 million investment fund. The fund consists of four stocks with the following investments and betas:

Stock	Investment	Beta
A	$ 260,000	1.50
B	360,000	- 0.50
C	1,220,000	1.25
D	2,750,000	0.75