2. Estimate the cost of equity for Walmart and X cel. a. Estimate raw betas using monthly return data of each company and S\&P 500 index for the past five years. b. Use Blume (1971) to estimate the adjusted betas of two companies. c. Download monthly adjusted closing prices for S\&P 500 index (ticker symbol^ GSPC) for the past 15 years from finance.yahoo.com and calculate monthly returns of S\&P 500 index. d. Calculate the average monthly return of S\&P 500 index based on the fifteen year's data in c) and annualize the monthly index return to annualized return for the index. 2. Estimate the cost of equity for Walmart and X cel. a. Estimate raw betas using monthly return data of each company and S\&P 500 index for the past five years. b. Use Blume (1971) to estimate the adjusted betas of two companies. c. Download monthly adjusted closing prices for S\&P 500 index (ticker symbol^ GSPC) for the past 15 years from finance.yahoo.com and calculate monthly returns of S\&P 500 index. d. Calculate the average monthly return of S\&P 500 index based on the fifteen year's data in c) and annualize the monthly index return to annualized return for the index