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Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy 0.21 0.55 0.24 Rate of Return if State Occurs -0.04

Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy 0.21 0.55 0.24 Rate of Return if State Occurs -0.04 0.11 0.21 Required: Calculate the expected return. O 10.76% 10.25% 9.74% 10.66% 1.87%

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