Florida Company (FC) and Minnesota Company (MC) are both service companies. Theirhistorical return for the past three years are: - 5%, 15%, 20%; MC:...

Florida Company (FC) and Minnesota Company (MC) are both service companies. Theirhistorical return for the past three years are: FC: - 5%, 15%, 20%; MC: 8%, 8%, 20%. If FC and MC are combined in a portfolio with 50% of the funds invested in each, calculate the expected return on the portfolio.