Suppose the risk$-$free return is $3\mathrm{.}1\%$ and the market portfolio has an expected return of $11\mathrm{.}1\%$ and a standard deviation

of $16\%.$ Johnson & Johnson Corporation stock has a beta of $0\mathrm{.}28.$ What is its expected return?

The expected return is

$\%.($Round to two decimal places.$)$