The market portfolio has an expected return of 11.6 percent and a standard deviation of 21.6 percent. The risk-free rate is 4.6 percent.

a. What is the expected return on a well-diversified portfolio with a standard deviation of 8.6 percent? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Expected return %

b. What is the standard deviation of a well-diversified portfolio with an expected return of 19.6 percent? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Standard deviation %