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What is the expected return on a security given the following information? State of Economy Probability of State Rate of Return Boom 0.3 8% Normal

What is the expected return on a security given the following information?

State of Economy	Probability of State	Rate of Return
Boom	0.3	8%
Normal	0.4	11%
Recession	0.1	-2%

Group of answer choices:

9.2%

8.8%

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