Suppose you are the money manager of a $4.04 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment & Beta:

A $ 220,000 &1.50

B 500,000 & (0.50 )

C 1,520,000 & 1.25

D 1,800,000 & 0.75

If the market's required rate of return is 8% 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