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I need help with the following question. Please show me the step-by-step process and how to do calculations of the Boom and what the expected return on stock is. Please show me how to do the calculations in Excel. Thank you for your help!!
Calculate the expected return on stock of Acme Inc.
State of Economy Probability of State Percentage of Returns
Economic recession 29% -7.2%
Steady Economic growth 45% 5%
Boom Please calculate it 11.3%
Round the answer to two decimal places in percentage form.