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You have just inherited a stock portfolio worth $500,000. The portfolio is made up of 40% bonds and 60% stocks. The bond portion of the

You have just inherited a stock portfolio worth $500,000. The portfolio is made up of 40% bonds and 60% stocks. The bond portion of the portfolio has an average annual return of 4%, while the stock portion has an average annual return of 8%. What is the expected annual return of the entire portfolio?

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