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Consider the following information: Rate of Return If StateOccurs State of Probability of Economy State of Economy Stock AStock B Stock C Boom .64 .10 .18 .36 Bust .36 .10 .04 −.07 a. Whatis the expected return on an equally weighted portfolio of thesethree stocks? (Do not round intermediate calculations. Enter youranswer as a percent rounded to 2 decimal places, e.g., 32.16.)Expected return % b. What is the variance of a portfolio invested15 percent each in A and B and 70 percent in C? (Do not roundintermediate calculations and round your answer to 6 decimalplaces, e.g., 32.161616.) Variance