Suppose you are the money manager of a $5.06 million investment fund. The fund consists of four stodes with the following investments and betas: Stock Investment Beta $ 480,000 1.50 700,000 (0.50) 1,280,000 1.25 D 2,600,000 0.75 If the market required to return is 13% 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