You have 4 Possible State outcomes. You are given the probability and return in both state 1 and 2. State 3 and 4 probability and returns are provided below. Use this information to compute the Expected Return for Tag Me.

• State 3 has a probability of 40% with a return of 15.00%
• State 4 has a probability of 20% with a return of 21.50%

Respond in percentage form without the percent sign and round to the second decimal place.

	states	Probability of	return in a
	Outcome	a given state	given state
	1	10%	-16.00%
	2	30%	8.30%
	3
	4