Question: A stock is expected to return 10% in a normal economy, 12% if the economy booms, and lose 3% if the economy moves into a

A stock is expected to return 10% in a normal economy,

A stock is expected to return 10% in a normal economy, 12% if the economy booms, and lose 3% if the economy moves into a recessionary period. Economists predict a 64% chance of a normal economy, a 12% chance of a boom, and a 24% chance of a recession. The expected return on the stock is %

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