You own a $40,000 portfolio invested in stocks Q and W. $30,000 is invested in Stock Q and $10,000 is invested in stock W. Stock Q will make either 5% in Good economic situation and 1% in Bad economic situation. Stock W will make either 6% or 2% in each different economic situation.

The chance of Good economic situation is 60% and that of Bad economic situation is 40%.

What is the expected return on this portfolio?

Answer in percent. But do not add % in your answer.