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You are going to make a portfolio consisting of 90 % of Bank of America Stock and 10 % of Caterpillar Stock. You also have the following information:
| State i | Probability of State i | BOA Return | Caterpillar Return |
| Boom | 90 % | 15 % | 24 % |
| Bust | 10 % | -2 % | -1 % |
What is the expected return for the portfolio? (Answer as a percentage and Round to 2 decimals)
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