Consider the following information State of Economy Probability of State of Economy Rate of Return if State Occurs Recession 19 09 Normal 45 11 Boom 36 30 Required Calculate the expected return ( Do not round intermediate calculations Enter your answer as a percentage r ounded to 2 decimal places (e g , 32 16) )

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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .19 .09 Normal .45 .11 Boom

Consider the following information:

State of Economy	Probability of State of Economy	Rate of Return if State Occurs
Recession	.19	.09
Normal	.45	.11
Boom	.36	.30

Required:

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

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