An investor is considering the purchase of stock, which has returns given in the table below.

Scenario	Probability	Rate of Return
Recession	0.27	-3%
Normal	0.46	7%
Boom	0.27	18%

Expected Return= 7.27%

Standard deviation= 7.72%

The investor decides to diversify by investing $8,000 in stock and $7,000 in Royal stock which has an expected return of 7.5% and a standard deviation of 10.8%. The correlation coefficient for the two stocks' returns is 0.4. Calculate the expected return and standard deviation of the portfolio. Round your answers to 2 decimal places. Use the correct answers from the previous question.