Problem 13-9 Returns and Variances (L01) Consider the following information: Rate of Return If State Occurs State of Economy Stock B Stock C Probability of State of Economy .60 .40 Boom Bust Stock A .09 .15 .18 .07 .36 -05 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the variance of a portfolio invested 15 percent each in A and B and 70 percent in C? (Do not round Intermediate calculations and round your answer to 6 decimal places, e.g., 161616.) % a. Expected return b. Variance