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Consider the following information: State of Economy Recession Normal Boom Probability of State of Rate of Return if State Economy Occurs 0.11 -0.04 0.35 0.15

Consider the following information: State of Economy Recession Normal Boom Probability of State of Rate of Return if State Economy Occurs 0.11 -0.04 0.35 0.15 0.54 0.28 Required: Calculate the expected return

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