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You have been given this probability distribution for the holding period return for KMP stock state Prob HPR boom 30% 18% Normal 50% 12% Recession

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You have been given this probability distribution for the holding period return for KMP stock state Prob HPR boom 30% 18% Normal 50% 12% Recession 2096 -5% What is the expected holding period return for KMP stock? 1) 10.40% 2) 9.32% 3) 11.63% o 4) 11.54% 5) 10.88%

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