Problem 13-9 Returns and Variances (L01, 2) Consider the following information: State of Economy Boom Bust Probability of State of Economy 0.58 0.42 Rate of Return if State Occurs Stock A Stock B Stock C 0.07 0.15 0.33 0.15 0.05 -0.07 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Expected return % b. What is the variance of a portfolio invested 20% each in A and B and 60% in C? (Do not round intermediate calculations. Round the final answer to 6 decimal places.) Variance