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Click to see additional instructions The next few questions refer to the same economy. Stock X's future returns follow the following probability distribution. A down

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Click to see additional instructions The next few questions refer to the same "economy." Stock X's future returns follow the following probability distribution. A down market has probability of 0.10, X's return in a down market is -15%; a normal market has probability of 0.5, X's return in a normal market is 15%; an up market has probability of 0.40, X's return in an up market is 45%. What is Stock X's expected rate of return? (Answer should be in percentage terms. Don't type the % sign. E.g., if your answer is 15%, type 15.)

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