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Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy 0.11 0.65 0.24 Rate of Return if State Occurs 0.06

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Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy 0.11 0.65 0.24 Rate of Return if State Occurs 0.06 0.16 0.25 Required Calculate the expected return. ? 16.53% ? 15.74% 0 2.33% ? 14.95% ? 16.37%

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