Portfolio Required Return Suppose you manage a $4.71 million fund that consists of four stocks with the following investments: Stock Investment Beta A $260,000 1.50 B 450,000 -0.50 C 1,300,000 1.25 D 2,700,000 0.75 If the market's required rate of return is 12% 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. %