Portfolio Required Return Suppose you manage a $4.66 million fund that consists of four stocks with the following investments: Stock A B C D Investment Beta $240,000 1.50 500,000 -0.50 1,020,000 1.25 2,900,000 0.75 If the market's required rate of return is 8% and the risk-free rate is 3%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places. %