Question: A project's expected return is 15%. This represents 35% return in a boom economy and a 5% return in a stagnant economy. What is the

A project's expected return is 15%. This represents 35% return in a boom economy and a 5% return in a stagnant economy. What is the probability of a boom if these are the only two possible economic states? Enter your answer rounded to two decimal places. For example: 0.50 should be entered as 50.00, not 0.50.

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