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HNL has an expected return of 18% and KOA has an expected return of 23%. If you create a portfolio that is 65% HNL and

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HNL has an expected return of 18% and KOA has an expected return of 23%. If you create a portfolio that is 65% HNL and 35% KOA, what is the expected return of the portfolio? The expected return of the portfolio is %. (Round to two decimal places.)

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