The stock of Business Adventures sells for $45 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: Dividend $2.60 1.50 0.60 Stock Price $55 Boom Normal economy Recession 39 a. Calculate the expected holding-period return and standard deviation of the holding-period return. All three scenarios are equally likely. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Expected return Standard deviation b. Calculate the expected return and standard deviation of a portfolio invested half in Business Adventures and half in Treasury bills. The return on bills is 5%. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Expected return Standard deviation