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Consider the following table: Stock Fund Bond Fund Scenario Probability Rate of Return Rate of Return Severe recession .10 37% 9% Mild recession .20 11%

Consider the following table: Stock Fund Bond Fund Scenario Probability Rate of Return Rate of Return Severe recession .10 37% 9% Mild recession .20 11% 15% Normal growth .35 14% 8% Boom .35 30% 5% Calculate the value of the covariance between the stock and bond funds.

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