Problem 11-8 Calculating Expected Returns [LO 1]

A portfolio is invested 29 percent in Stock G, 44 percent in Stock J, and 27 percent in Stock K. The expected returns on these stocks are 10.5 percent, 13 percent, and 18.4 percent, respectively.

Required:

What is the portfolios expected return? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)

Expected return

%