Consider a market where the risk-free rate is 0.03 and the market portfolio has an expected return of 0.11 and a return variance of 0.04. An investor has the mean-variance preference of investments with a risk-aversion coefficient of 4. Under Markowitz's portfolio theory, what would be this investor's maximized utility from investments? Please round your calculation to the nearest 2^nd decimal and fill in the calculated number below. Please put your answer as decimal values instead of percentage points (e.g., 0.01, but not 1%).