There is a 47.71% probability of an average economy and a 52.29% probability of an above average economy. You invest 38.23% of your money in Stock S and 61.77% of your money in Stock T. In an average economy the expected returns for Stock S and Stock T are 10.08% and 8.25% , respectively. In an above average economy the the expected returns for Stock S and T are 36.03% and 35.26% , respectively. What is the expected return for this two stock portfolio? (2.0 points) Please write your answer as percentage (e.g. .1234 should be written as 12.34):

Expected Return: