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Suppose you are the money manager of a $4

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Suppose you are the money manager of a $4.97 million investment fund. The fund consists of four stocks with the following investments and betas:

Stock Investment Beta A $   240,000                                1.50 B 520,000                                (0.50) C 1,260,000                                1.25 D 2,950,000                                0.75

If the market's required rate of return is 12% 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.

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