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Question : You recently purchased a stock that expected to earn 12

You recently purchased a stock that is expected to earn 12 percent in a booming economy, 9 percent in a normal economy and lose 3 percent in a recessionary economy. There is a 18 percent probability of a boom, a 76 percent chance of a normal economy. What is your expected rate of return on this stock? 7.00 8.82 8.82 9.18 3.00

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