Volusia inc. is a u.s.-based MNC that is exposed to the taiwan dollar (TWD) and the egyptian pound (EGP) based on todays spot rates, the dolar value of of the inflows and outflows are estimated to be $1,000,000 and $250,000 for the twd and $500,000 and $250,000 for the EGP dollars. Based on the data for the last 50 months, volusia estimates the standard deviation of exchange rate returns to be 7% for taiwan dollars and 5% for the egyptian pound. The correlation coefficient between the two is 0.7. Based on this information, calculate the portfolio standard deviation.