In addition torisk-free securities, you are currently invested in the TanglewoodFund, abroad-based fund of stocks and other securities with an expected return of 11.59%and a volatility of 34.16%.Currently, therisk-free rate of interest is 3.68%.Your broker suggests that you add a venture capital fund to your current portfolio. The venture capital fund has an expected return of 22.76%, a volatility of 79.95%, and a correlation of 0.15 with the Tanglewood Fund. Calculate the required return and use it to decide whether you should add the venture capital fund to your portfolio.

The required return is .............%. (Round to two decimalplaces.)