Suppose you manage a $4.635 million fund that consists of four stocks with the following investments: -0.50 Stock Investment Beta A $200,000 1.50 B 375,000 1,060,000 1.25 D 3,000,000 0.75 If the market's required rate of return is 9% and the risk-free rate is 7%, what is the fund's required rate of return? Do not round intermediate calculations. Round your answer to two decimal places. %