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?

Do not round intermediate calculations. Round the final answer to 5 decimal places. For example, an answer of 0.123456789 should be entered as 0.12345 (not 12.34567%).