You recently purchased a stock that is expected to earn 18 percent in a booming economy, 13 percent in a normal economy, and lose 4 percent in a recessionary economy. There is 21 percent probability of a boom, 68 percent chance of a normal economy, and 11 percent chance of a recession. What is your expected rate of return on this stock?

12.18%

3.70%

10.33%

6.09%

9.00%