Consider the following information: Rate of Return if State Occurs State of Economy Boom Bust Probability of State of Economy .69 .31 Stock A .12 .16 Stock B .06 .22 Stock C .27 -.07 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 24 percent each in A and B and 52 percent in C? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.)