Consider the following information: Rate of Return if State Occurs State of Probability of Economy State of Economy Boom Bust 0.64 0.36 Stock A 0.11 0.12 Stock B 0.20 0.07 Stock C 0.38 -0.07 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Expected return 16.16 % b. What is the variance of a portfolio Invested 20% each in A and B and 60% In C? (Do not round intermediate calculations. Round the final answer to 6 decimal places.) Variance