Suppose you are the money manager of a $4.08 million Investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment Beta $$40,000 1.50 B 700,000 (0.50) C 1,040,000 1.25 D 1.900.000 0.75 If the market's required rate of return is 11% and the risk-free rate is what is the fund's required rate of return? Do not round intermediate calculations Round your answer to two decimal places