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Everrest Inc.'s stock has a 55% chance of producing a 12.00% return, a 27% chance of producing a 22.25% return, and a 18% chance of
Everrest Inc.'s stock has a 55% chance of producing a 12.00% return, a 27% chance of producing a 22.25% return, and a 18% chance of producing a 4.25% return. What is the firm's expected rate of return? Round your answer to two decimal places.
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