Consider the following information:

Project Boom (50%) Recession (50%)

     A                 $40           -$10

      B                -$10            $40

      C                 $50           $50

      D                 $40           -$40

A. Calculate the Expected Return to each project;

B. Rank these projects in terms of attractiveness from a risk-averse perspective;

C, Assess how your answers change if the likelihood of these outcomes changes such that there is an 70% chance of an economic boom and 30% chance of a recession.