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Consider the following information: State of Economy Probability of State of Economy Portfolio Return If State Occurs Recession .21 .11 Boom .79 .21 Calculate the

Consider the following information:

State of Economy Probability of State of Economy Portfolio Return If State Occurs
Recession .21 .11
Boom .79 .21

Calculate the expected return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Expected return %

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