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Andrew Dawns holds a large position in the common stock of Savory Doughnuts, Inc (Savory). After an extensive executive search, Savory is about to announce a new CEO. There are three candidates for the CEO position, and each is viewed differently by the market. Dawns estimates the following probabilities for the rate of return on Savory’s stock in the year following the announcement:
Based on Dawn’s estimates, the expected rate of return on Savory’s stock following the announcement of the new CEO is closest to: A. -2%. B. 6%. C. 10%. D. 9%. |