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Consider the following information: Probability of State of Rate of Return if State State of Economy Recession Normal Boom Economy 0.21 0.45 0.34 Occurs 0.04

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Consider the following information: Probability of State of Rate of Return if State State of Economy Recession Normal Boom Economy 0.21 0.45 0.34 Occurs 0.04 0.15 0.24 Required: Calculate the expected return Multiple Choice 13.37% 0 14.63% 2.33% 14.77% 14.07%

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