Consider the following information: Rate of Return if State Occurs Probability of State State of Economy of Economy Stock A Stock B Stock C Boom .68 .11 .05 .26 Bust .32 15 21 -.06 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 23 percent each in A and B and 54 percent in C? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.) Answer is complete but not entirely correct. a. Expected return 12.84 % b. Variance of portfolio 0.00331