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Consider the following information: Probability of State of Rate of Return if State State of Economy Economy Occurs Recession 0.21 -0.04 Normal 0.55 Boom 0.24

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Consider the following information: Probability of State of Rate of Return if State State of Economy Economy Occurs Recession 0.21 -0.04 Normal 0.55 Boom 0.24 0.27 0.12 Required: Calculate the expected return. Multiple Choice 11.63% 12.73% 12.24% 12.85%

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