32. Consider two stocks: ABC and XYZ. Over the next year, there are two possible states of the economy with the probabilities given below, and for each state the return on each stock is given below.

State	Probability	Return on ABC	Return on XYZ
1	0.3	16%	65
2	0.7	6%	16%

What is the expected return on a portfolio that has weights of 50% in ABC and 50% in XYZ?

A) 9%

B) 11%

C) 22%

D) Cannot be determined without more information