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The rate of return on the common stock of Apple is expected to be 2 2 percent in a boom economy and 3 percent in

The rate of return on the common stock of Apple is expected to be 22 percent in a boom economy and 3 percent in a recession. The probability of a boom in the following year is 25 percent. What is the expected return of the common stock? (7%)
Following the previous question, what is the standard deviation of the returns on this common stock? (8%)
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