Consider the following information: Rate of Return if State Occurs Probability of State of Economy Stock B State of Economy Boom Bust .60 Stock A .08 .18 .16 Stock C .34 -.07 .40 .08 a. What is the expected return on an equally weighted portfolio of these three stocks? (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 18 percent each in A and B and 64 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 161616.) % a. Expected return b. Variance