You have been given this probability distribution for the holding-period return for a stock:

Stock of the Economy Probability HPR

Boom 0.40 22%

Normal growth 0.35 11%

Recession 0.25 -9%

What is the expected holding-period return for the stock?

a-8.33%

b9.56%

c12.4%

d11.67%

eNone of the options are correct.