Problem 13-9 Returns and Variances [LO1] Consider the following information: Rate of Return If State Occurs State of Probability of - State of State of Economy Economy Stock B Boom Stock A .11 12 .65 35 .19 Stock C 37 -05 Bust .06 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 16.03% b. What is the variance of a portfolio invested 16 percent each in A and B and 68 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 32.161616.) Variance