The following table presents forecasted returns for three companies under various potential states of the economy: State Above Average Average Below Average Recession Weight Probability 10% 45% 30% 15% Stock X 38.8% 18.4% -2.9% -10.4% 55% Stock Y Stock Z 26.4% 43.5% 8.7% 10.4% -4.0% -7.0% -6.0% -15.7% 30% 15% What is the standard deviation 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).