b. Consider the following information: Rate of Return if State Occurs Probability of State State of Economy of Economy Stock A Stock B Stock C Boom 0.68 0.11 0.05 0.26 Bust 0.32 0.15 0.21 -0.06 REQUIRED: i. Calculate the expected return on an equally weighted portfolio of these three stocks. ii. Calculate the variance of a portfolio invested 23 percent each in A and B and 54 percent in C