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The stock of Business Adventures sells for $60 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 $60 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 $2.00 Boom Normal economy Recession Stock price $73 63 1.50 0.70 59 Calculate the expected holding-period return. All three scenarios are equally likely. (Do not round intermediate calculations. Round your answer to 4 decimal places) Expected return

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