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Phillip forms a portfolio consisting of $48,000 in the overall stock market and $13,000 in T-Bills. What is his portfolio's expected return if the market

Phillip forms a portfolio consisting of $48,000 in the overall stock market and $13,000 in T-Bills. What is his portfolio's expected return if the market risk premium is 7.48% and the current T-Bill rate is 4.08%? Enter your answer as a decimal and 4 decimal places. For example, if your answer is 6.75%, enter .0675.

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