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 Stock A .07 .12 Stock B .15 .04 Stock C .35 -,05 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return b. What is the variance of a portfolio invested 25 percent each in A and B and 50 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 32.161616.) Variance