An investor buys 1 share of Zephyr Ltd at the price of $33 on July 1, 2021. The firm is not expected to pay any dividends. Consider the following three possible scenarios for the share price on July 1, 2022:

• $55 if the economy is "good", with a probability of 25%.

• $37 if the economy is "moderate", with a probability of 65%.

• $20 if the economy is "bad", with a probability of 10%.

a) Calculate the expected return for holding the share for a year.

b) Calculate the variance of return and standard deviation of return.