Suppose the risk-free rate is 3.7 percent and the market portfolio has an expected return of 10.4 percent. The market portfolio has a variance of .0332. Portfolio Z has a correlation coefficient with the market of 23 and a variance of 3235. According to the capital asset pricing model, what is the expected return on Portfolio Z? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.. 32.16.) 2 Expected return % Nell