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The theoretical probability of picking a green marble can be calculated by taking the number of green marbles (12) and dividing it by the total number of marbles in the bag (5 + 7 + 12 + 2 + 4).
So, 12 green marbles / (5 pink + 7 red + 12 green + 2 blue + 4 black) = 12/30 = 2/5
Therefore, the answer is:
2/5