You own a portfolio that is 30 percent invested in Stock X, 45 percent in Stock Y, and 25 percent in Stock Z. The expected returns on these three stocks are 10 percent, 13 percent, and 15 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.)
Expected return on the portfolio