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Suppose that the market portfolio is equally likely to increase by 30% or decrease by 10%. The risk free interest rate is 3%. The expected

Suppose that the market portfolio is equally likely to increase by 30% or decrease by 10%. The risk free interest rate is 3%. The expected return on a security with a beta of 2.3 is _________ (Round to 2 decimal places. Do not use percentage values.)

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