Suppose you are the money manager of a $5 million Investment fund. The fund consists of four stocks with the following Investments and betas: Stock Beta Investment $ 400,000 740,000 1,060,000 2,800,000 1.50 (0.50) 1.25 0.75 If the market's required rate of return is 12% 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