1.

David Brown has $23,388.00 invested in American Cyanamid, $26,974.00 in Gannett Company, and $23,980.00 in Texas International. If American Cyanamid has an expected return of 21.19%, Gannett an expected return of 25.96%, and Texas International an expected return of 16.77%, what is the portfolio's expected return? (Answer the number of percentage, e.g. If your answer is 10%, answer 10 in the aniswering area. Do not round intermediate calculations. Round your answer to 2 decimal places.)