Consider the following information: State of Economy Recession Boom Probability of State of Expected return Economy .22 78 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.) Portfolio Return if State Occurs -.12 .22 %

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