Suppose Autodesk stock has a beta of 2.40, whereas Costco stock has a beta of 0.69. If the risk-free interest rate is 6 % and the expected return of the market portfolio is 12.5 %, what is the expected return of a portfolio that consists of 65 % Autodesk stock and 35 % Costco stock, according to the CAPM. The expected return is? (Round to two decimal places.)