Smith manages a portfolio of stocks. He picks a set of stocks at the beginning of a year and holds them until the end of the year. An important measure of Smith's performance is the proportion of stocks in his portfolio that rose in value over the year. For the most recent year, of the 52 stocks in his portfolio, 40 stocks rose in value.

In the broad universe of stocks from which Smith selects his portfolio, 76% of the stocks rose in value.

a. What percentage of his stocks rose in value? (Write up to two decimal places; for example, [70.01]%)

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