Consider the following information:

State of Economy Probability of State of Economy Rate of Return if State Occurs

Recession $\mathrm{.}18\mathrm{.}11$

Normal $\mathrm{.}47\mathrm{.}13$

Boom $\mathrm{.}35\mathrm{.}32$

Calculate the expected return.

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$