You manage the following $5 million portfolio that contains stocks A through D. The required rate of return on the market is 7.00% and the risk-free rate is 2.25%. What is the portfolio's required rate of return? Do not round your intermediate calculations.

Stock		Amount		Beta
A		725,000		1.15
B		275,000		0.50
C		3,500,000		1.25
D		500,000		0.80
		$5,000,000

	a.	8.90%
	b.	8.49%
	c.	7.44%
	d.	8.02%
	e.	7.71%