You have $30,000 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 8 percent.

Required: (a) If your goal is to create a portfolio with an expected return of 12.4 percent, how much money will you invest in Stock X?

(b) If your goal is to create a portfolio with an expected return of 12.4 percent, how much money will you invest in Stock Y?