The returns on the common stock of New Image products are quite cyclical. In a boom economy, the stock is expected to return 32% in comparison to 14% in a normal economy and a negative 28% in a recessionary period. The probability of a recession is 25% while the probability of a boom is 10%. What is the standard deviation of the returns on this stock?A. 19.94%B. 21.56%C. 25.83%D. 32.08%E. 39.77%

The returns on the common stock of New Image products are quite cyclical. In a boom economy, the stock is expected to return 32% in comparison to 14% in a normal economy and a negative 28% in a…

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