You Own a Portfolio with the Following Expected Returns Given

Multiple Choice

You own a portfolio with the following expected returns given the various states of the economy. what is the overall portfolio expected return?
$\begin{array} { | l | l | l | } \hline \text { State of Economy } & \text { Probability of State of Economy } & \text { Rate of Return if State Occurs } \\\hline \text { Boom } & 15 \% & 18 \% \\\hline \text { Normal } & 60 \% & 11 \% \\\hline \text { Recession } & 25 \% & 10 \% \\\hline\end{array}$

A) 6.3%
B) 6.8%
C) 7.6%
D) 10.0%
E) 10.8%