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A business is expected to return 22 percent in a booming economy, 15 percent in a normal economy and lose 2 percent in a recession.

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A business is expected to return 22 percent in a booming economy, 15 percent in a normal economy and lose 2 percent in a recession. The probabilities of an economic boom, normal state, or recession are 5 percent, 92 percent and 3 percent respectively. What is the expected rate of return on this business? 14.51 percent 14.23 percent 15.47 percent 1526 percent 14.84 percent

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