PORTFOLIO REQUIRED RETURN Suppose you are the money manager of a $4.55 million investment fund. The fund consists of four stocks with the following investments and betas: Stock A B C D Investment $ 280,000 340,000 1,380,000 2,550,000 Beta 1.50 (0.50) 1.25 0.75 If the market's required rate of return is 11% 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. %