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Stock M has a beta of 1.2. The market risk premium is 7.5 percent, and the risk-free rate is 2.8 percent. Assume you compile a

Stock M has a beta of 1.2. The market risk premium is 7.5 percent, and the risk-free rate is 2.8 percent. Assume you compile a portfolio equally invested in Stock M, Stock N, and risk-free security; the portfolio has a beta equal to the overall market. What is the expected return on the portfolio? (Please answer in decimal format. No credit will be awarded if your answer is in percentage.)

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