Use the following information on states of the economy and stock returns to calculate the expected return for Dingaling Telephone: (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)
State of Economy Probability of State of Economy Security Return If State Occurs
Recession .40 –4.50 %
Normal .50 13.00
Boom .10 25.00
Expected return %