A different analyst uses a twofactor APT model to evaluate expected returns and risk. The risk premiums on the factor 1 and factor 2 portfolios are 4.95% and 2.75%, respectively, while the riskfree rate of return remains at 3.25%. According to this APT analyst, your portfolio formed in question 14 has a beta on factor 1 of 5.50 and a beta on factor 2 of 3.50. According to APT, what is the expected return on your portfolio if no arbitrage opportunities exist?