Suppose you form a portfolio consisting of $21,000 invested in a mutual fund with beta of 1.7, $17,000 invested in Treasury securities (assume risk-free), and $19,000 invested in an index fund tracking the market. Expected market risk premium is 6.6%. Risk-free rate is 1.2%. What is the expected return of this portfolio according to the CAPM? Answer in percent, rounded to one decimal place.