Consider the following information: State of Economy Boom Bust Probability of State of Economy a. Expected return b. Variance .70 .30 Rate of Return if State Occurs % Stock A 14 .12 Stock B .21 .02 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 25 percent each in A and B and 50 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., .161616.) Stock C .39 -.07