The expected return on a portfolio considers which of the following factors?

I	Percentage of the portfolio invested in each individual security.
II	Projected states of the economy.
III	The performance of each security given various economic states.
IV	Probability of occurrence for each state of the economy.

I and III only

II and IV only

I, III, and IV only

II, III, and IV only

I, II, III, and IV