1 Richard purchased a piece of land last year for $85,700. The landis now worth $103,800. If Richard needs to have a total return of0.20 during the year, then what is the dollar amount of income that he needed tohave to reach his objective? Round to two decimal places.

2 In order to fund his retirement, John requires a portfolio with an expected return of0.10 per year over the next 30 years. He has decided to invest in Stocks 1, 2, and 3, with 25 percent in Stock 1, 50 percent in Stock 2, and 25 percent in Stock 3. If Stocks 1 and 2 have expected returns of0.08 and0.11 per year, respectively, then what is the minimum expected annual return for Stock 3 that will enable John to achieve his investment requirement? Round to two decimal places.

3 The beta of Z Alien Inc., stock is 1.7, whereas the risk-free rate of returnis0.08. If the expected return on the market is0.13, then what isthe expected return on Z Alien Inc? Round to four decimal places.