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Use the following information on states of the economy and stock returns to calculate the standard deviation of returns. (Do not round intermediate calculations. Enter

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Use the following information on states of the economy and stock returns to calculate the standard deviation of returns. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) State of Economy Probability of State of Economy 0.45 0.40 0.15 Security Return if State Occurs -5.00% 12.00 16.00 Recession Normal Boom Standard deviation

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