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Suppose Avis Budget Group stock has a beta of 2.53 , whereas Costco stock has a beta of 0.72 . If the risk-free interest rate

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Suppose Avis Budget Group stock has a beta of 2.53 , whereas Costco stock has a beta of 0.72 . If the risk-free interest rate is 4.69% and the expected return of the market portfolio is 10.08%, what is the expected return of a portfolio that consists of 45% Avis Budget Group stock and 55% Costco stock, according to the CAPM? The beta of the portfolio is (Round to two decimal places.)

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