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Problem 13-5 Calculating Expected Return [LO1] Consider the following information: State of Probability of Portfolio Return Economy State of Economy If State Occurs Recession Boom

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Problem 13-5 Calculating Expected Return [LO1] Consider the following information: State of Probability of Portfolio Return Economy State of Economy If State Occurs Recession Boom .22 .78 -.12 .22 Calculate the expected return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16) Expected return

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