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Avery Company stock is expected to return 13.30% in a booming economy; 7.10% in an average economy, and minus 3.00% in a recession. The probability

Avery Company stock is expected to return 13.30% in a booming economy; 7.10% in an average economy, and minus 3.00% in a recession. The probability of an economic boom is 10.90%. If the expected rate of return on the Avery Company stock is 6.40%, then what is the probability of an average economy? a. 47.17% b. 53.91% c. 75.48% d. 89.10% e. 62.90%

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