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You have been given this probability distribution for the holding-period return for KMP stock: HPR Stock of the Economy Boom Normal growth Recession Probability 0.30

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You have been given this probability distribution for the holding-period return for KMP stock: HPR Stock of the Economy Boom Normal growth Recession Probability 0.30 0.50 0.20 18% 12% - 5% What is the expected holding-period return for KMP stock? Multiple Choice 10.40% 9.32% 11.63% 11.54% O 10.38%

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