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

Risk-free asset earning 6% per year.

Risky asset with expected return of 24% per year and standard deviation of 32%.

If you construct a portfolio with a standard deviation of 24%, what is its expected rate of return? (Do not round your intermediate calculations. Round your answer to 1 decimal place.)

Expected return on portfolio %