Problem 13-9 Returns and Variances (LO1) Consider the following information: Rate of Return If State Occurs State of Economy Boom Bust Probability of State of Economy .56 .44 Stock A Stock B Stock C .13 .15 .21 .05 .39 -.06 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 20 percent each in A and B and 60 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 161616.) % a. Expected return b. Variance