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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .11 .07 Normal .55 .11 Boom

Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .11 .07 Normal .55 .11 Boom .34 .28 Calculate the expected return.

14.80%
14.06%
2.13%
15.54%
15.39%

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