Suppose the risk$-$free return is $6\mathrm{.}4\%$ and the market portfolio has an expected return of $9\mathrm{.}8\%$ and a standard deviation of $16\%.$ Loblaw Companies Limited stock has a beta of $0\mathrm{.}28.$ What is its

expected return?

The expected return is

$\%.($Enter your response as a percent rounded to two decimal places.$)$