3. A portfolio consists of three assets. Asset 1 has a beta of 0.85, Asset 2 has a beta of 1.3, and Asset 3 has a beta of 0.9. Asset 1 has an allocation of 50 percent, while Assets 2 and 3 each have an allocation of 25 percent. The variance of returns on a market index, m2, is 120 . Calculate the variance of portfolio returns, assuming that the specific risk of the portfolio is negligible