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Consider the following Information: State of Economy Recession Normal Boom Probability of State of Economy 0.11 0.45 0.44 Rate of Return if State Occurs -0.03

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Consider the following Information: State of Economy Recession Normal Boom Probability of State of Economy 0.11 0.45 0.44 Rate of Return if State Occurs -0.03 0.15 0.21 Required: Calculate the expected return O 15.66% ho 0 2.20% O 16.29% 0 14.88% O 16.44%

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