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The stock of Business Adventures sells for $40 a share. Its likely dividend payout and end-of-year price depend on the state of the economy by

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The stock of Business Adventures sells for $40 a share. Its likely dividend payout and end-of-year price depend on the state of the economy by the end of the year as follows: Stock Price $50 43 34 Dividend Boom Normal economy Recession $2.00 1.00 .50 Calculate the expected holding-period return. All three scenarios are equally likely. (Do NOT enter % sign. If your answer is 0.0678 or 6.78% enter only 6.78. Round your answer to 2 decimal places.)

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