Portfolio Required Return

Suppose you manage a $4.645 million fund that consists of four stocks with the following investments:

Stock Investment Beta

A $240,000 1.50

B 525,000 -0.50

C 980,000 1.25

D 2,900,000 0.75

If the market's required rate of return is 10% 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.