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Jackson Corporation has expected return of 13% during recession, 10% during normal, and -5% during boom state of economy. Probability of recession, normal and boom
Jackson Corporation has expected return of 13% during recession, 10% during normal, and -5% during boom state of economy. Probability of recession, normal and boom states of economy is 0.25, 0.50, and 0.25 respectively. Find the expected return for Jackson Corporation. Round to the nearset hundredth percent. Answer in the percent format. Do not include % sign in your answer (i.e. If your answer is 4.33%, type 4.33 without a % sign at the end.)
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