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A stock is expected to earn 29 percent in a boom economy, 16.50 percent in a normal economy, and lose 25 percent in a recessionary

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A stock is expected to earn 29 percent in a boom economy, 16.50 percent in a normal economy, and lose 25 percent in a recessionary economy. There is a 15 percent chance the economy will boom and a 70 percent chance the economy will be normal. What is the expected risk premium for this stock if the risk-free rate is expected to be 4.70 percent

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