16 Consider the following information: Rate of Return if State Occurs State of Probability of State of Economy Stock A Stock B Stock C Economy Boom .68 13 .22 -40 Bust 32 .10 .04 -08 4 points 2 02:52:35 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the variance of a portfolio invested 24 percent each in A and B and 52 percent in C? (Do not round Intermediate calculations and round your answer to 6 decimal places, e.g. 161616.) % a. Expected return b. Variance