Your portfolio is invested 26 percent each in a and c, and 48 percent in b. what is the expected return of the portfolio? (do not round intermediate calculaitons. enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.)

I think its 32 because if you add and divide

This portfolio does not have an equal weight in each asset. We first need to find the return of the portfolio in each state of the economy. To do this, we will multiply the return of each asset by its portfolio weight and then sum the products to get the portfolio return in each state of the economy. Doing so, we get:
Boom: Rp =.20(.27) + .60(.41) + .20(.28) = .3560 or 35.60%
Good: Rp = .20(.08) + .60(.16) + .20(.11) = 0.1340 or 13.40%
Poor: Rp = .20(-.01) + .60(.10) + .20(.02) = .0620 or 6.20%
Bust: Rp = .20(-.07) + .60(-.03) + .20(-4.98) = -1.0280 or -102.80%
And the expected return of the portfolio is:
E(Rp) = .20(.3560) + .40(.1340) + .16(.0620) + .24(-1.0280) = -.1120 or -11.20%

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.