12.27 Using CAPM [LO4]An equity has a beta of 1.35 and an expected return of 16 per cent. A risk-free asset currently earns 4.8 per cent.(a) What is the expected return on a portfolio that is equally invested in the two assets?(b) If a portfolio of the two assets has a beta of 0.95, what are the portfolio weights?(c) If a portfolio of the two assets has an expected return of 8 per cent, what is its beta?(d) If a portfolio of the two assets has a beta of 2.70, what are the portfolio weights? How do you interpret the weights for the two assets in this case? Explain.