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Suppose the risk-free return is 6.3% and the market portfolio has an expected return of 8.9% and a standard deviation of 16%. Johnson & Johnson

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Suppose the risk-free return is 6.3% and the market portfolio has an expected return of 8.9% and a standard deviation of 16%. Johnson & Johnson Corporation stock has a beta of 0.31. What is its expected return? The expected return is %. (Round to two decimal places.)

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