Portfolio Required Return

Suppose you manage a $4.275 million fund that consists of four stocks with the following investments:

Stock	Investment		Beta
A	$460,000		1.50
B	375,000		-0.50
C	1,140,000		1.25
D	2,300,000		0.75

If the market's required rate of return is 9% 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.

%