The rates of return for a stock are as follows: 2% if the state of the economy is recession, 8% if the state of the economy is normal, and 11% if the state of the economy is expansion. The probability for each state of the economy is 30%, 45%, and 25%, respectively. Assume the stock has an expected rate of return of 6.95%. What is the variance for this stock? Round final answer to 5 decimal places