Titanium Enterprises (TE) is a US company with no debt. If the market demand for TEs products is high, its assets will be worth $600 million in one year. If the market demand for TEs products is low, its assets will be worth only $300 million. The probability that the market demand is high is 59%, while the probability of demand being low is 41%. The market value today of TE's assets is $400 million. Suppose the risk-free interest rate is 4%. If TE borrows $150 million today at this rate and uses the proceeds to pay an immediate cash dividend, then according to Modigliani and Miller (1958), the expected return of TE's stock just after the dividend is paid would be closest to: