Suppose you are the money manager of a $5.08 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Beta Investment $ 440,000 800,000 940,000 2,900,000 1.50 (0.50 ) C 1.25 0.75 If the market's required rate of return is 12% 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. %