Consider the following information: Rate of Return if State Occurs State of Economy Boom :57 Bust of Economy .66 .34 Probability of State Stock A .09 .13 Stock B Stock C .03 .19 .24 -.04 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the variance of a portfolio invested 21 percent each in A and B and 58 percent in C? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g., 32.16161.) a. Expected return 11.58 % b. Variance of portfolio 0.03042