You are talking to your equity analyst about Danny Noonan's Golf Stores. Based on her projections in a Good, Average and Bad state of the economy you think the below probabilities and returns exist for the stock. What is Danny Noonan's expected return under these assumptions?

Conditions	Prob.	Return
Good	0.25	30.0%
Average	0.50	12.0%
Poor	0.25	18.0%
	1.00

Group of answer choices

7.72%

8.55%

8.12%

9.50%

9.00%