A Portfolio Manager Has Decided to Invest a Total of $10

A portfolio manager has decided to invest a total of $10 million on U.S.and Japanese portfolios.The expected returns are 12 percent on the U.S.portfolio and 20 percent on the Japanese portfolio.What is the expected return of an international portfolio with 40 percent invested in the U.S.portfolio and 60 percent invested in the Japanese portfolio?

A) 32.0%
B) 16.8%
C) 16.0%
D) 12.7%