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Bill Dukes has $ 1 0 0 , 0 0 0 invested in a 2 - stock portfolio. $ 6 2 , 5 0 0

Bill Dukes has $100,000 invested in a 2-stock portfolio. $62,500 is invested in Stock X and the remainder is invested in Stock Y. Xs expected return is 10.0% and Ys expected return is 14.5%. What is the portfolios expected return? Do not round your intermediate calculations. Round the final answer to 2 decimal places.

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