Consider a portfolio consisting of 2 assets, a share with a beta of 0.9 and market risk premium of 15%, and a risk-free asset with an expected return of 4%. If the portfolio weighting is 40% of shares and 60% of the risk-free asset what is the expected return on the portfolio?

a. 10.6%

b. 9.4%

c. 8.4%

d. 7.69%