Assume Deniz constructs a portfolio with weights of 0.60 in stocks and 0.40 in bonds. There is a 0.3 chance that a recession will occur, with stocks earning a 3% return and bonds earning a 12% return. There is a 0.6 chance that the economy will return to normal, in which case stocks will return 13% and bonds would return 8%. Finally, there is a 0.1 chance that a boom will occur, in which case equities will gain 26% and bonds will yield 3%. a. Calculate the rate of return on Deniz's portfolio in each scenario? (Enter your answer as a percent rounded to 1 decimal place.) b. Calculate the expected rate of return and the standard deviation of Deniz's portfolio. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)