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Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy .17 48 35 Rate of Return if State Occurs -12

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Consider the following information: State of Economy Recession Normal Boom Probability of State of Economy .17 48 35 Rate of Return if State Occurs -12 14 33 Calculate the expected return. (Do not round intermediate calculations and answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return 96

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