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Maroon has an expected return of 24.5 %, and a variance of 0.011 . Gray has an expected return of 17.5 %, and a variance

Maroon has an expected return of 24.5%, and a variance of 0.011. Gray has an expected return of 17.5%, and a variance of 0.007. The covariance between Maroon and Gray is 0.08. Using these data, calculate the variance of a portfolio consisting of 55.5% Maroon and 44.5% Gray.

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