The last four years of returns for a stock are provided. 1 2 4 -8% +32% +16% +8% (a) What is the stock's average annual return as a percent? (b) What is the standard deviation (volatility) of the stock's returns as a percent? (Round your answer to two decimal places.) Consider the returns for the past 5 months below (returns are in decimals). These past monthly returns are drawn from identical and independent distributions that are the same as those of monthly returns over the next year. 5 0.06 -0.04 0.05 0.07 -0.03 (a) Calculate the expected return over the next month (as a percent). (b) Calculate the standard deviation of returns over the next month (as a percent). (Round your answer to two decimal places.)