Portfolio Required Return

Suppose you manage a $4.01 million fund that consists of four stocks with the following investments:

Stock	Investment		Beta
A	$500,000		1.50
B	650,000		-0.50
C	1,060,000		1.25
D	1,800,000		0.75

If the market's required rate of return is 9% and the risk-free rate is 7%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

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