a) 10.33%

b) 10.14%

c) 11.45%

d) 10.60%

e) 9.95%

Assume the economy has a 6.00% chance of booming, an 7.00% chance of being recessionary, and being normal the remainder of the time. PL Lumber stock is expected to return 22.00% in a boom, 11.00% in a normal, and lose 8.00% in a recession economy. What is the expected rate of return on this stock