PORTFOLIO REQUIRED RETURN Suppose you are the money manager of a $4.17 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment Beta $ 500,000 1.50 (0.50) 640,000 1.25 1,180,000 1,850,000 0.75 If the market's required rate of return is 11% and the risk-free rate is 6%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places