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Taggart Inc.'s stock has a 50% chance of producing a 30% return, a 25% chance of producing a 12% return, and a 25% chance of
Taggart Inc.'s stock has a 50% chance of producing a 30% return, a 25% chance of producing a 12% return, and a 25% chance of producing a -18% return. What is the firm's expected rate of return?
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