You are going to invest $20,000 in a portfolio consisting of assets X, Y, and Z, as follows

Portfolio proportions: Asset X = 40%, Asset Y = 25% and asset Z = 35%

Beta: Asset X = 1.2 Asset Y = .96 and asset Z = .85.

The risk free rate is 4% and the expected return on the market is 9%.

The expected return on the portfolio containing assets X, Y, and Z is ________.

Group of answer choices

9.1%

9%

8.9%

8.5%