Problem 11-9 Returns and Standard Deviations [LO 1, 2] Consider the following information Rate of Return if State Occurs State of Probability of State Economy of Economy Stock C Stock A 12 26 Stock B Boom Bust 69 31 06 32 37 17 Required (a) What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) Expected return (b) What is the variance of a portfolio invested 24 percent each in A and B and 52 percent in C? (Do not round intermediate calculations. Round your answer to 5 decimal places (e.g., 32.16161).) Variance of a portfolio