2. An owner of several Minor League Baseball franchises holds the investment portfolio found below. 1. What is the beta of this portfolio? Interpret the practical meaning of this statistic. 2. If the risk-free rate is 10% and the market risk premium is 5% what is the owner's required rate of return? 3. If the market's expected rate of return is 10% and the risk-free rate is 4%, what is the owner's required rate of return? Asset Investment Beta Johnson City $5,000,000 0.5 Doughboys Bristol State $5,000,000 1.0 Liners TVA Credit $5,000,000 1.5 Union Ballpark TOTAL $15,000,000