There is 7 percent probability of recession, 22 percent probability of a poor economy, 46 percent probability of a normal economy, and 25 percent probability of a boom. A stock has returns of 20.9 percent, 4.5 percent, 12.3 percent and 28 percent in these states of the economy, respectively. What is the stock's expected return?

• 11.17%

• 12.19%

• 15.11%

• 13.65%

• 5.98%