Assume the risk-free rate is 3% and the expected return on the market is 12%. If a company's stock has a beta of 1.5, what is the company's cost of equity capital? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit the % sign in your response. For example, an answer of 15.39% should be entered as 15.39. Numeric Response The expected returns on Stock A, Stock B, and Stock C are 12%, 14%, and 18%, respectively. If a portfolio is 28% invested in Stock A, 46% invested in Stock B, and 26% invested in Stock C, what is the expected return on this portfolio? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit the % sign in your response. For example, an answer of 15.39% should be entered as 15.39. Numeric Response