You recently purchased a stock that is expected to earn 19% in a booming economy, 8% in a normal economy and lose 3% in a recessionary economy. There is a 25% probability of a boom, a 60% chance of a normal economy, and a 15% chance of a recession. What is your expected rate of return on this stock?

a. 9.10%

b. 6.80%

c. 12.67%

d. 12.88%

e. 8.30%