P13-9 Returns and Variances (LO1] Consider the following information: Rate of Return if State Occurs State of Economy Boom Bust Probability of State of Economy 0.72 0.28 Stock A 0.31 0.13 Stock B Stock C 0.29 0.11 0.09 0.17 Requirement 1: What is the expected return on an equally weighted portfolio of these three stocks? (Do not round your intermediate calculations.) (Click to select) Requirement 2: What is the variance of a portfolio invested 20 percent each in A and B and 60 percent in C? (Do not round your intermediate calculations.)