Question: Do not round intermediate calculations and round your final answer to two decimals, e.g., 32.09. Please include the formula if there is any and the

Do not round intermediate calculations and round your final answer to two decimals, e.g., 32.09.

Please include the formula if there is any and the process through which you get the answers for the questions with a text box. These are an important part of grades.

Some economists predict that the economy has a 10 percent chance of booming, a 50 percent chance of being recessionary, and being normal the remainder of the time. A stock is expected to return 22 percent in a boom, 10 percent in a normal economy, and 8 percent in a recession. What is the expected rate of return on this stock?

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