The common stock of Manchester & Moore is expected to earn 13.2 percent in a recession, 8 percent in a normal economy, and lose 3.5 percent in a booming economy. The probability of a boom is 17 percent while the probability of a recession is 5 percent. What is the expected rate of return on this stock? (Do not round Intermediate caution and enter your answer as a percent rounded to 2 decimal places, 0.17.16.)