Suppose you are the money manager of a $4.36 million investment fund. The fund consists of four stocks with the following investments and betas: 1.50 Stock Investment Beta $ 280,000 B 580,000 (0.50) 1,100,000 1.25 D 2,400,000 0.75 If the market's required rate of return is 11% and the risk-free rate is 5%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places. %