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An investor with a degree of risk aversion of 4 (A=4) is trying to form a complete portfolio by investing in a risky asset with

An investor with a degree of risk aversion of 4 (A=4) is trying to form a complete portfolio by investing in a risky asset with an expected rate of return of 12.4% and a standard deviation of 25%, and a T-bill that pays 3%. He could achieve the highest utility if he allocates _________% of his money to the risky asset.

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