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There is 9 percent probability of recession, 2 4 percent probability of a poor economy, 4 4 percent probability of a normal economy, and 2

There is 9 percent probability of recession, 24 percent probability of a poor economy, 44 percent probability of a normal economy, and 23 percent probability of a boom. A stock has returns of 21.1 percent, 4.7 percent, 12.5 percent, and 28.2 percent in these states of the economy, respectively. What is the stock's expected return?

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