Question: A project's expected return is 20%, which represents a 34% return in a boom, a 13% return in a normal, and a 3% return in

A project's expected return is 20%, which represents a 34% return in a boom, a 13% return in a normal, and a 3% 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 20%? Multiple Choice 51.43% 25.71% 34.29% 42.86%

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