The following table presents forecasted returns for three companies under various potential states of the economy:

State Probability Stock X Stock Y Stock Z Above Average 10% 35.6% 27.1% 43.6% Average 45% 16.5% 7.0% 9.3% Below Average 30% -1.1% -4.0% -7.0% Recession 15% -12.0% -6.0% -19.6% Weight 55% 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).