Mike Flannery holds the following portfolio:                   StockInvestmentBeta   A) $150,000 1

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Mike Flannery holds the following portfolio:                  

StockInvestmentBeta

 

A) $150,000 1.40

B) 50,000 0.80

C) 100,000 1.00

D) 75,000 1.20

 

Total375,000

 

If the market's required return is 12% and the risk free rate is 5%, what is the fund's required rate of return? If necessary round your final answer to two decimal places.