As chlef investment officer of a smali endowment fund, you are considering expanding the fund's strategic asset allocation from just common stock (CS) and fixed-income (Fi) to indude private real estate partherships (PR) as well: Cument Alocation: 70 percent of Asset CS, 30 percent of Asset FI Proposed Allacatian: 55 percent of Asset CS,15 percent of Asset FI,30 percent of Asset PR You also consider the following historical dota for the three risky asset dasses (CS, FI, and PR) and the risk-free rate (RFR) over a recent investment period: You hove alicady determined that the expected return and standard deviation for the Current Allocation are: E(Reurrent =7.47 percent and Coumert 2=12.469 percent, a. Calculate the expected return for the Proposed Allocation. Round your answer to two decimal places