Question : Suppose that you have $1 million and the following two : 5395

Suppose that you have $1 million and the following two opportunities from which to construct a portfolio:

Risk-free asset earning 11% per year.

Risky asset with expected return of 31% per year and standard deviation of 41%.

If you construct a portfolio with a standard deviation of 32%, what is its expected rate of return? (Do not round your intermediate calculations. Round your answer to 1 decimal place. Omit the "%" sign in your response.)