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turn in Normal Growth = (1200+4)/1000-1 (1200+4)/1000-1 0.204 20.40% turn in Mild Recession = (950+3.5)/1000-1 (950+3.5)/1000-1 -0.0465 -4.65% turn in Severe Recession = (560+2)/1000-1

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turn in Normal Growth = (1200+4)/1000-1 (1200+4)/1000-1 0.204 20.40% turn in Mild Recession = (950+3.5)/1000-1 (950+3.5)/1000-1 -0.0465 -4.65% turn in Severe Recession = (560+2)/1000-1 (560+2)/1000-1 -0.438 -43.80% pected Return: (0.30*30.45%)+(0.2*20.4%)+(0.4*(-4.65%))+(0 0.06975 sk Premium: 6.975% 6.975%-4% = 2.975% andard Deviation: Sqrt(0.3*(30.45%-6.975 %)^2+0.2*(20.4% -6.975 0.226547

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