Pfizer Inc. stock is expected to return 20 percent in a booming economy, 12 percent in a normal economy, and -2 percent in a recession. The probabilities of an economic boom, normal state, or recession are 10 percent, 83 percent, and 7 percent, respectively. What is the expected rate of return on this stock? 11.82% 12.84% 13.47% 12.23% 12.51%

Pfizer lnc, stock is expected to return 20 percent in a booming economy, 12 percent in a normal economy, and -2 percent in a recession. The probabilities of an economic boom, normal state, or recession are 10 percent, 83 percent, and 7 percent, respectively. What is the expected rate of return on this stock? 11.82% 12.84% 13.47% 1223% 12.51%