4. Calculate the following: (a) average returns; (b) variances; (c) covariance; (d) beta. 4. Calculate cost of

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4. Calculate the following:

(a) average returns;

(b) variances;

(c) covariance;

(d) beta. 4. Calculate cost of equity: risk-free rate is 7.7 per cent; market rate of return is 15.6 per cent; beta is 1.23.

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