You recently purchased a stock that is expected to earn 24 percent in a booming economy, 13 percent in a normal economy, and lose 2 percent in a recessionary economy. There is a 24 percent probability of a boom, a 61 percent chance of a normal economy, and a 15 percent chance of a recession. What is your expected rate of return on this stock?

Options:

2.86 percent

13.39 percent

12.33 percent

6.70 percent

11.67 percent