Question: A project's expected return is 23%, which represents a 36% return in a boom, a 13% return in a normal, and a 4% return in

A project's expected return is 23%, which represents a 36% return in a boom, a 13% 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 49.35% 59.22% 29.61% 39.48%

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