11. Suppose the risk-free rate of return is 3%, the expected market return is 10%, and the beta for EBI is 1.5. a. What is the expected return for EBI? BUS 451: Venture Formation and Finance Brad Barbeau b. Newly Created Brands, Inc. (NCBI) has a beta of 2.3. What would be an explanation for why NCBI's beta is higher than EBI's beta? 12. Why is the liquidity premium higher for closely held corporations than for publicly traded corporations