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Consider the following information: Probability of State of Economy .10 State of Economy Recession Normal Boom Portfolio Return if State Occurs -.15 .60 .09 .23

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Consider the following information: Probability of State of Economy .10 State of Economy Recession Normal Boom Portfolio Return if State Occurs -.15 .60 .09 .23 .30 Calculate the expected return. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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