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23. Stock Y has a beta of 1.60 and an expected return of 16%. If the risk-free rate is 3% and the market risk premium

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23. Stock Y has a beta of 1.60 and an expected return of 16%. If the risk-free rate is 3% and the market risk premium (expected market return minus risk-free rate) is 6\%, is this stock undervalued of overvalued according to the CAPM (or SML)? Why or why not

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