Consider the following two stocks.

	Probabilities (pipi )	Stock "a"	Stock "b"
Recession	p1=p1= 36%	-1%	4%
Normal	p2=p2= 38%	6%	-5%
Boom	p3=p3= 26%	12%	22%

What is the expected return of each stock? Enter your answers as a percentage rounded to 2 decimal places. Do not enter the percentage sign in your answer.

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