Suppose you are the money manager of a $4.31 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment Beta A $360,000 1.50 740,000 (0.50) 1,460,000 D 1,750,000 0.75 If the market's required rate of return is 11% and the risk-free rate is 3%, what is the fund's required rate of return? Do not found intermediate calculations. Round your answer to two decimal places. 1.25