Suppose Autodesk stock has a beta of

2.16,

whereas Costco stock has a beta of

0.69.

If the risk-free interest rate is

3%

and the expected return of the market portfolio is

12.5%,

what is the expected return of a portfolio that consists of

70%

Autodesk stock and

30%

Costco stock, according to the CAPM?

The expected return is

nothing%.

(Round to two decimal places.)