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Consider the following information: State Probability Stock A Stock B Stock C Boom 0.65 0.08 0.03 0.24 Bust 0.35 0.07 -0.11 -0.09 What is the

Consider the following information:

State Probability Stock A Stock B Stock C

Boom 0.65 0.08 0.03 0.24

Bust 0.35 0.07 -0.11 -0.09

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).

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