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You have been given this probability distribution for the holding-period return for a stock: State of the Economy Probability HPR Boom .30 34% Normal growth

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

State of the Economy Probability HPR

Boom .30 34%

Normal growth .45 11%

Recession .24 -9%

What is the expected return for the stock?

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