Security Analysts That Have Evaluated Concordia Corporation, Have Determined That

Multiple Choice

Security Analysts that have evaluated Concordia Corporation, have determined that there is a 15% chance that the firm will generate earnings per share of $2.40; a 60% probability that the firm will generate earnings per share of $3.10; and a 25% probability that the firm will generate earnings per share of $3.80. What are the expected earnings per share for Concordia Corporation? (Round off to the nearest $0.01)

A) $3.10
B) $3.17
C) $2.75
D) $2.91