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A stock sells for $30. Its year-end dividend payment and year-end price in three states are as follows. state dividend ($) stock price ($) 1

A stock sells for $30. Its year-end dividend payment and year-end price in three states are as follows.

state dividend ($) stock price ($)

1 0 21

2 1 32

3 2 37

Each state is equally likely. Find the expected return on the stock.

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