Suppose you are the money manager of a $5.38 million investment fund. The fund consists of four stocks with the following investments and betas:

Stock Investment Beta

A $240,000 1.50

B $800,000 (0.50 )

C $1,540,000 1.25

D $2,800,000 0.75

If the market's required rate of return is 10% 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. %