The following returns have been estimated for Security T and S:

The following returns have been estimated for Security T and S:
Scenario Security T Security S

1 20% 10%

2 13% -6%

3 15% 20%

Each scenario is equally likely to occur, and you plan to invest 70% in Security T and 30% in Security S.

Refer to the information above. What is the expected return of the portfolio? Round your answer to the nearest tenth of a percent.

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