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? $$\begin{array} { l c c } \text { State of } & \text { Probability of } & \text { Rate of Return } \\\text { Economy } & \text { State of Economy } & \text { if State Occurs } \\\text { Boorn } & .25 & .185 \\\text { Nomal } & .60 & .143 \\\text { Bust } & .15 &. 032\end{array}$$

A) 14.49 percent
B) 14.64 percent
C) 13.87 percent
D) 13.69 percent
E) 14.23 percent