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		.69			.12			.06			.27
Bust		.31			.16			.22			.07

b. What is the variance of a portfolio invested 24 percent each in A and B and 52 percent in C? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.) Variance of a portfolio