Consider the following information: Rate of Return If State Occurs State of Economy Stock A Probability of State of Economy .60 40 Stock B Stock C Boom Bust .09 .15 .18 .07 36 -.05 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 15 percent each in A and B and 70 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 161616.) a. 14.87% Expected return b. Variance 0.020820