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A portfolio is consisted of two stocks:$1,600 in stock X and $2,900 in stock Y. The expected return on stock X is 11%, and 8%

A portfolio is consisted of two stocks:$1,600 in stock X and $2,900 in stock Y. The expected return on stock X is 11%, and 8% for stock Y. What is the expected rate of return of this portfolio? (Round answers to two decimals without %, for example, for answer 0.43%, enter 0.43 only)

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