Assume that you manage a risky portfolio with an expected rate of return of 20% and a standard deviation of 41%. The T-bill rate is 4%.

Your risky portfolio includes the following investments in the given proportions:

Stock A	25	%
Stock B	34	%
Stock C	41	%

Your client decides to invest in your risky portfolio a proportion ( y ) of his total investment budget with the remainder in a T-bill money market fund so that his overall portfolio will have an expected rate of return of 16%.

What is the proportion y ? (Round your answer to 2 decimal places.)