Problem 8-7 Portfolio required return Suppose you are the money manager of a $4.58 million investment fund. The fund consists of 4 stocks with the following investments and betas: Stock Investment Beta $ 400,000 1.50 - 0.50 340,000 1,140,000 2,700,000 1.25 0.75 If the market's required rate of return is 9% and the risk-free rate is 3%, what is the fund's required rate of return? Round your answer to two decimal places