An investor has allocated 23% of her portfolio to stock A,18% to stock B,32% to stock C, and 27% to stock D. The beta of stock A is 1.4 , the beta of stock B is 0.9 , the beta of stock C is 1.2 , and the beta of stock D is 0.8 . The risk-free rate is 3.8% and the expected return of the market portfolio is 8.8%. Assuming the stocks are priced based on the capital asset pricing model (CAPM), what is the expected return of the investor's portfolio? Round all intermediate calculations to 6 decimal points. Your final answer should be within 0.05% of the correct answer choice. \begin{tabular}{|l|} \hline 13.34% \\ \hline 9.08% \\ \hline 13.26% \\ \hline 9.22% \\ \hline \end{tabular}