State of Economy Boom Growth Stagnant Recession Probability of State 0.28 0.38 0.24 0.10 Return on Assel J in State 0.060 0.060 0.060 0.060 Return on Asset Kin State 0.190 0.110 0.020 -0.150 Retum on Asset L in State 0.270 0.180 0.090 -0.200 Print Done inn Simi Expected return and standard deviation. Use the following information to answer the questions: a. What is the expected return of each asset? b. What is the variance and the standard deviation of each asset? c. What is the expected return of a portfolio with 11% in asset J, 45% in asset K, and 44% in asset L? d. What is the portfolio's variance and standard deviation using the same asset weights from part (c)? Hint: Make sure to round all intermediate calculations to at least seven (7) decimal places. The input instructions answer box, only apply for the answers you will type b. What is the variance of asset J