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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.

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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.) Probability of Security Return if State State of State of Economy Economy Occurs Recession 35 Normal .50 Boom .15 Expected return -8.00% 14.00 24.00 %

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