Suppose you are the money manager of a $$4\mathrm{.}08$ million investment fund. The func

consists of four stocks with the following investments and betas:

If the market's required rate of return is $13\%$ and the risk$-$free rate is $6\%,$ what is

the fund's required rate of return? Do not round intermediate calculations. Round

your answer to two decimal places.

$\%$