Question: A project's expected return is 18%, which represents a 33% return in a boom, a 15% return in a normal, and a 4% return in

A project's expected return is 18%, which represents a 33% return in a boom, a 15% return in a normal, and a 4% return in a stagnant economy. What is the probability of a boom if these are the only three economic states and the probability of a stagnant economy is 15%?

Multiple Choice

20.67%
31.00%
15.50%
25.83%

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