Suppose you are the money manager of a $4.19 million investment fund. The fund consists of 4 stocks with the following investments and betas: Stock Investment Beta A $ 340,000 1.50 B 680,000 - 0.50 C 1,020,000 1.25 D 2,150,000 0.75 If the market's required rate of return is 11% and the risk-free rate is 7%, what is the fund's required rate of return? Round your answer to two decimal places. %