We have the following:

Bonds, Stocks, and cash

Annual Expected Returns: For stocks, we have 7%. For bonds, we have 2%.

The annual return volatilities: For stocks, we have 20%. For bonds, we have 10%.

Risk tolerance: 0.25.

Allocation of John, the investor: For stocks, we have 35%. For bonds, we have 45%.

Question here is: how do you think we should infer expected returns for bonds and stocks that was assumed by John?