Problem 11-8 Returns and Standard Deviations Consider the following information: Rate of Return if State Occurs State of Economy Boom Bust Probability of State of Economy .58 42 Stock C Stock A .07 .16 Stock B .15 .06 .33 - .06 a. What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) Expected return % b. What is the variance of a portfolio invested 20 percent each in A and B and 60 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places. (e.g., 32.161616)) Variance