Consider the following information: Rate of Return if State Occurs State of Economy Boom Bust Probability of State of Economy .71 .29 Stock A .09 .28 Stock B .03 Stock C .39 .34 -.19 a. What is the expected return on an equally weighted portfolio of these three stocks? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. What is the variance of a portfolio invested 26 percent each in A and B and 48 percent in C? Note: Do not round intermediate calculations and round your answer to 5 decimal places, e.g., .16161. > Answer is not complete. a. Expected return b. Variance of portfolio 16.23 %