Suppose that you have $$1$ million and the following two opportunities from which to construct a portfollo:

Required:

a$.$ RIsk$-$free asset earning $13\%$ per year.

b$.$ Risky asset with expected return of $27\%$ per year and standard deviation of $40\%.$

f you construct a portfollo with a standard devlation of $28\%,$ what is its expected rate of return?

Note: Do not round your Intermedlate calculations. Round your answer to $1$ decimal place.

Expected return on portfolio