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The analysts that follow the stock of Friendly Farmers Cooperative have estimated the return on stock under different outcomes: State of Economy Recession Normal Boom

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The analysts that follow the stock of Friendly Farmers Cooperative have estimated the return on stock under different outcomes: State of Economy Recession Normal Boom Probability of State of Economy 17% 48% 35% Rate of Return if State Occurs -12% 14% 33% Calculate the expected return (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Expected return 20.31%

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