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A financial analyst has determined that there is a 22% probability that a mutual fund will...

A financial analyst has determined that there is a 22% probability that a mutual fund will outperform the market over a 1-year period provided that it outperforms the market the previous year. If only 12% of mutual funds outperform the market during any year, what is the probability that a mutual fund will outperform the market 2 years in a row? Probability =

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