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Company X can earn 25% rate of return in Boom, 15% in Normal, and -10% in Recession. What is its Expected Rate of Return (ERR)

Company X can earn 25% rate of return in Boom, 15% in Normal, and -10% in Recession. What is its Expected Rate of Return (ERR) if the probability for boom is 40% and that for a normal situation is 50%?

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