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Consider the following covariances between securities: Duke Microsoft Wal-Mart Duke 0.0568 -0.0193 0.0037 Microsoft -0.0193 0.2420 0.1277 Wal-Mart 0.0037 0.1277 0.1413 The variance on a

Consider the following covariances between securities:

	Duke	Microsoft	Wal-Mart
Duke	0.0568	-0.0193	0.0037
Microsoft	-0.0193	0.2420	0.1277
Wal-Mart	0.0037	0.1277	0.1413

The variance on a portfolio that is made up of equal investments in Duke Energy and Microsoft stock is closest to:

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