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Bemard Companies stock has an expected return of 9.5 percent. The stock is expected to return 11 percent in a normal economy and 14.3 percent

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Bemard Companies stock has an expected return of 9.5 percent. The stock is expected to return 11 percent in a normal economy and 14.3 percent in a boom. The probabilities of a recession, normal economy, and a boom are 10 percent, 84 percent, and 6 percent, respectively. What is the expected return if the economy is in a recession? 5.44%2.97%

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