Suppose you design a portfolio that is composed 47% of stocks in a Mexican stock market index and the remainder in Brazlian stocks. The expected return of the Mexican market is 11% and the expected Brazilian return in 17%. The volatility in the Mexican and Brazil markets are 17% and 11%, respectively. Calculated the expected return of the portfolio. Enter your answer in percent form (e.g. 5%), but do not include the percent sign. Round your answer and all intermediate steps to four decimal places.