12:47 Suppose your expectations regarding the stock X price are as follows: State of the Market Probability Ending Price HPR (including dividends) Boom 0.35 $140 44.5 Normal growth 0.30 110 Recession 0.35 80 14.0 -16.5 For all questions below, express your answer in percentage terms, rounded off to the nearest tenth of a percent. (For example, if you compute a return of 0.1348 or 13.48%, fill in 13.5 in the answer box.) Question 2a Unanswered 5 attempts left What is the expected return on stocks? Type your response Submit Question 2b Unanswered 5 attempts left What is the volatility of returns? Type your response