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P13-6 Calculating Expected Return (LO1) Consider the following information: Probability of State of Rate of Return if State State of Economy Economy Occurs Recession 0.11

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P13-6 Calculating Expected Return (LO1) Consider the following information: Probability of State of Rate of Return if State State of Economy Economy Occurs Recession 0.11 -0.08 Normal 0.35 0.12 Boom 0.54 0.32 Required: Calculate the expected return. Multiple Choice 2.40% 21.63% 19.57%

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