Question: A project's expected return is 15%, which represents a 35% return in a booming economy and a 5% return in a stagnant economy. What is

A project's expected return is 15%, which represents a 35% return in a booming economy and a 5% return in a stagnant economy. What is the probability of a booming economy occurring if these are the only two economic states?

a.)18.33%

b.)25.00%

c.)33.33%

d.)50.00%

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