Portfolio Required Return Suppose you manage a $4.39 million fund that consists of four stocks with the following investments: Stock Investment Beta A $200,000 1.50 B 500,000 -0.50 C 940,000 1.25 D 2,750,000 0.75 If the market's required rate of return is 12% 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.