Problem 8-7 Portfolio required return Suppose you are the money manager of a $3.75 million investment fund. The fund consists of four stocks with the following investments and betas: Stock Investment Beta A $ 400,000 1.50 B 300,000 - 0.50 C 1,100,000 1.25 D 1,950,000 0.75 If the market's required rate of return is 11% 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. %