PORTFOLIO REQUIRED RETURN Suppose you are the money manager of a $3.89 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Beta Investment $ 360,000 460,000 1,220,000 1,850,000 1.50 (0.50) 1.25 0.75 If the market's required rate of return is 11% and the risk-free rate is 4%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places