The following table presents forecasted returns for three companies under various potential states of the economy: State Above Average Probability 10% Average 45% Below Average Recession 30% 15% Weight Stock X 37.7% 16.3% -2.3% -13.8% 55% Stock Y Stock Z 27.3% 40.2% 7.9% 13.0% -4.0% -7.0% -6.0% -15.9% 30% 15% What is the expected return on a portfolio of these three companies constructed according to the weights given in the table? (Report answer in percentage terms and round to 2 decimal places. Do not round intermediate calculations).