Suppose the risk-free rate is 4.7 percent and the market portfolio has an expected return of 11.4 percent. The market portfolio has a variance of .0432. Portfolio Z has a correlation coefficient with the market of .33 and a variance of .3335

According to the capital asset pricing model, what is the expected return on Portfolio Z? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)