4. The risk-free rate is 4%, the expected risk premium (i.e., market return minus the risk-free rate) is 6%, and the volatility (standard deviation of returns) of the market returns is 20%. Stock X's volatility (standard deviation of its returns) is 32% and its correlation coefficient with the market returns is 0.85. The volatility of stock Y is 35% and its correlation coefficient with the market returns is 0.50. a. What is the beta of X and beta of Y? b. Which stock has a higher systematic risk? Why? c. Which stock has higher total risk? Why? d. What returns would investors demand from X and from Y? e. Stock Z is correctly priced and both its expected and required return is 13 percent. What must its beta be