Problem $5\mathrm{.}4($a$)$

Assume that you manage a risky portfolio with an expected rate of return of $15\%$ and a standard deviation of $31\%.$ The T$-$bill rate is $4\%.$ Your client chooses to invest $70\%$ of a tiortfolio in your fund and $30\%$ in a T$-$bill money market fund.

What is the expected return of your client's portfolio? $($Enter your answer in percentage points. Round your answers to $2$ decimal places.$)$