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Consider the following information: Probability of State of State Economy of Economy Recession .23 Normal .46 Boom 31 Rate of Return if State Occurs -.10

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Consider the following information: Probability of State of State Economy of Economy Recession .23 Normal .46 Boom 31 Rate of Return if State Occurs -.10 .12 .31 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.) Expected return Expected return %

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