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Elon Tesler invests 55% of his funds in stock I and the balance in stock J. The standard deviation of returns on I is 16%,

Elon Tesler invests 55% of his funds in stock I and the balance in stock J. The standard deviation of returns on I is 16%, and on J it is 23%. Calculate the variance of portfolio returns, assuming the correlation is 0.6.

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