Given the following information, what is the expected return on a portfolio that is invested 35 percent in Stock A, 45 percent in Stock B, and the balance in Stock C?

13.46 percent

12.16 percent

11.87 percent

12.04 percent

12.91 percent

Rate of Return if State Occurs: State of Probability of Stock A Stock B Stock C Economy State Occurring 00%) (06) 16.7 6.4 12 Boom 18.9 14.2 11.4 85 Normal 9.5 Recession 6.4 03 3.8 11.2