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You manage a risky portfolio P that has the following characteristics: expected return-16% and the standard deviation of the return of your portfolio 20%. The

You manage a risky portfolio P that has the following characteristics: expected return-16% and the standard deviation of the return of your portfolio 20%. The risk-free rate is at 4%. Your client wants to invest a proportion of her total wealth in your risky portfolio and the rest in risk-free asset to maximize expected return and at the same time limit the volatility to no higher than 14% on her overall portfolio. Then the expected return of her portfolio is

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