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After studying the economy. you forecast that there is a 70% chance of a good econorny next year and a 30% chance of a poor

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After studying the economy. you forecast that there is a 70\% chance of a good econorny next year and a 30% chance of a poor economy. If the econorny is good, you estimate that a stock you have been following would have a 24% return. Likewise, if the nconomy is poor. you estirnate a -2046 return for that same stock. The risk-free rate is 4.5%. What is the expected return for this stock? (Answer to the nearest tenth of a percent, but do not use a percent sign

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