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You have $16,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 14 percent and Stock Y with

You have $16,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 14 percent and Stock Y with an expected return of 9 percent. Assume your goal is to create a portfolio with an expected return of 12.20 percent.

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How much money will you invest in Stock X and Stock Y? (Do not round intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).)

Investment in Stock X $
Investment in Stock Y $

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