Consider the following information:

State Probability Stock A Stock B Stock C

Boom 0.65 0.12 0.11 0.28

Bust 0.35 0.04 0.09 0.29

What is the expected return on an equally weighted portfolio of these three stocks? (Hint: Equally means that each stock has the same weight. Given that there are only 3 stocks, each has a weight of 1/3) Enter the answer with 4 decimals (e.g. 0.1234).