Suppose you are the money manager of a $$3\mathrm{.}96$ million investment

fund. The fund consists of $4$ stocks with the following investments

and betas: Stock Investment Beta A $ $280,0001\mathrm{.}50$ B $380,000-0\mathrm{.}50$

C $900,0001\mathrm{.}25$ D $2,400,0000\mathrm{.}75$ If the market's required rate of

return is $12\%$ and the risk$-$free rate is $6\%,$ what is the fund's

required rate of return? Round your answer to two decimal

places.