Consider a stock with a purchase price today of 90. The probability distribution of its dividend and selling price one year from now is shown in Table 1. Table 1: Recession Normal Boom Probability 0.2 0.5 0.3 Div 2 3 5 Price at t=1 70 100 110 a) Find the one year holding period return for each state of the economy. Explain your results. [4 marks] b) Find the expected one year holding period return. Explain your result. [4 marks] c) Find the standard deviation for the holding period return. Explain your result. [5 marks]