Currently, the risk-free return is 3 percent, and the expected market rate of return is 13 percent. What is the expected return of the following three-stock portfolio? Do not round intermediate calculations. Round your answer to two decimal places.

\begin{tabular}{cc} Investment & Beta \\ \hline$300,000 & 1.0 \\ 150,000 & 0.2 \\ 550,000 & 2.5 \end{tabular}