You decided to invest money into a portfolio of two stocks, Snapchat and Groupon. There are two possibilities for what you can earn on each of these two stocks next year, the so-called "thumbs up" state and the so-called "thumbs down" state. The details are in the table below:

		Proportion of money invested into Snapchat stock = 25%	Proportion of money invested into Groupon stock = 75%
State of the economy	Probability of the state of the economy	Snapchat stock's return in each state of the economy	Groupon stock's return in each state of the economy
"Thumbs up" state	70%	57%	14%
"Thumbs down" state	30%	13%	37%

Calculate the expected return on your portfolio next year.

Put your answer in percent but do NOT use the "%" sign, and round to TWO decimal places. For example, if you got 12.34%, type just 12.34.

Answer:__________________