You own a portfolio with the following expected returns given the various states of the

You own a portfolio with the following expected returns given the various states of the economy. What is the overall portfolio expected return?State of Probability of Rate of ReturnEconomy State of Economy if State OccursBoom 27% 17%Normal 70 8Recession 3 -11O 8.87 percentO 9.86 percentO 10.23 percentO 8.64 percentO 6.49 percent