Use the following information on states of the economy and stock returns to calculate the expected return for Dingaling Telephone: (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

State of Economy	Probability of State of Economy		Security Return If State Occurs
Recession	.40		5.50	%
Normal	.40		11.00
Boom	.20		17.00

Expected return

%