A market-neutral fund ($146,000,000) strives for very low market risk ( =0.13 ). It believes it can generate =0.03 per quarter. The of the underlying portfolio is 1.33 . The risk-free rate is 0.5% per quarter and the S\&P 500 is currently priced at 4,000 (E-mini S\&P 500 multiplier =$50 ). Required: If the S\&P 500 is 3,800 at the end of quarter, what is the expected return on the portfolio? Note: Do not round intermediate calculations. Round your answer to 2 decimal places