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Consider the following information: State of Economy Probability of State of Economy Portfolio Return if State Occurs Recession 0.20 -0.18 Normal 0.50 0.11 Boom 0.30

Consider the following information:

State of Economy	Probability of State of Economy		Portfolio Return if State Occurs
Recession		0.20		-0.18
Normal		0.50		0.11
Boom		0.30		0.29

Calculate the expected return. (Round your answer to 2 decimal places. (e.g., 32.16))

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