Consider the following information: State of Economy Boom Bust Probability of State of Economy 8.60 0.48 Rate of Return If State occurs Stock A Stock B Stock C 0.08 8.16 8.34 0.18 0.09 -0.06 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round Intermediate calculations. Round the final answer to 2 decimal places.) Expected return 14 40% b. What is the variance of a portfolio invested 15% each in A and B and 70% in C? (Do not round Intermediate calculations. Round the final answer to 6 decimal places.) Variance 0098.270