Assume that you are considering assets from the following three candidates: Return p.a. Market Condition Probability Asset Asset Asset 1 2 3 Good 0.25 15% 6% 20% Average 0.5 12% 6% 11% Poor 0.25 8% 8% 3% The expected returns of Asset 1, Asset 2 and Asset 3 are: None of the options 13.67%, 9,67%, 6.33% 11.75%, 6.5%, 11.25% 12%, 6%, 11% 11.67%, 6.67%, 11.33%