Suppose that you have $1 million and the following two opportunities from which to construct a portfolio:
a. Risk-free asset earning 12% per year.
b. Risky asset with expected return of 26% per year and standard deviation of 41%.
If you construct a portfolio with a standard deviation of 28%, 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.)
Expected return on portfolio _______???