Consider the following information:

State of	Probability of State			Rate of Return if State Occurs
Economy	of Economy			Stock A			Stock B			Stock C
Boom		.74			.12			.06			.32
Bust		.26			.21			.27			.12

a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return % b. What is the variance of a portfolio invested 29 percent each in A and B and 42 percent in C? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.) Variance of a portfolio