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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .31 .12 Boom .69 .24 Calculate

Consider the following information:

State of
Economy		 Probability of
State of Economy		 Rate of Return
if State Occurs
Recession .31 .12
Boom .69 .24

Calculate the expected return. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return:

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