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Suppose the risk-free return is 6.7% and the market portfolio has an expected return of 8.6% and a standard deviation of 16%. Johnson & Johnson

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Suppose the risk-free return is 6.7% and the market portfolio has an expected return of 8.6% 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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