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Consider a two - state economy: recession and boom. The probability of having a boom is 4 0 % . Suppose an asset will earn

Consider a two-state economy: recession and boom. The probability of having a boom is 40%. Suppose an asset will earn -13% in the recession and 20% in the boom. What is the standard deviation of the asset return in percentage (%)?
Note: Write your answer in % terms with 2 or more decimal places. For example, write 2.54(%) instead of 0.0254.

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