Consider two perfectly negatively correlated risky securities Y and Z. Y has an expected rate of return of 14% and a standard deviation of 22%. Z has an expected rate of return of 9% and a standard deviation of 14%.

The risk-free portfolio that can be formed with the two securities will earn a(n) _______ rate of return. (Do not round intermediate calculations. Input your final answer in percent form, rounded to two decimal places i.e. 12.34%)

Numeric Response: