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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 0.21 -0.02 Normal 0.65 0.12 Boom

Consider the following information:

State of Economy	Probability of State of Economy	Rate of Return if State Occurs
Recession	0.21	-0.02
Normal	0.65	0.12
Boom	0.14	0.27

Required:

Calculate the expected return.

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