You own a portfolio that is 35 percent invested in Stock X 20 percent in Stock Y, and 45 percent in Stock Z. The expected returns on these three stocks are 8 percent, 16 percent, and 12 percent, respectively. What is the expected return on the portfolio? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Portfolio expected return 5.46 %