E(r) on T-bills is 5% and the same on the composite index is 9.24% and the standard deviation of the composite index is 17.42%. Calculate the expected return anduse your findings to calculate the standard deviationof portfolios invested in T-bills and the composite index with weights as follows:

W (Bills)

W (Market)

0.4

0.6

Provide your answer forthe standard deviationas a percentage, rounded to 2 decimal places.