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You recently purchased a stock that is expected to earn 19 percent in a booming economy, 8 percent in a normal economy, and lose 28

You recently purchased a stock that is expected to earn 19 percent in a booming economy, 8 percent in a normal economy, and lose 28 percent in a recessionary economy. There is a 20 percent probability of a boom and a 70 percent chance of a normal economy. What is your expected rate of return on this stock? show the answer in detail.

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