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There is 9 percent probability of recession, 16 percent probability of a poor economy, 46 percent probability of a normal economy, and 29 percent probability

There is 9 percent probability of recession, 16 percent probability of a poor economy, 46 percent probability of a normal economy, and 29 percent probability of a boom. A stock has returns of 19.1 percent, 2.7 percent, 10.5 percent, and 26.2 percent in these states of the economy, respectively. What is the stock's expected return?

Multiple Choice 12.86% 10.21% 5.08% 11.14% 14.58%

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