You hold a portfolio with 60% of the money in Alpha Corporation, 20% in Delta Company and the balance in Zeta Company. Alpha Corporation has a beta of 0.8, Delta Company has a beta of 1.1, and Zeta Company has a beta of 2.1. The risk-free rate of interest is 3.2% and the market risk premium is 5%. According to the CAPM, what is the expected return on this portfolio (that is, what is the cost of equity of this portfolio)? Round your answer to two decimals, e.g. if the answer is 10.42% input 10.42.

Hint: The beta of a portfolio is the market-value weighted average of the betas of the individual investments in that portfolio.