7. What is the expected holding-period return for KMP stock? A. 10.40%

B. 9.32%

C. 11.63%

D. 11.54% E. 10.88%

18. What is the expected standard deviation for KMP stock? A. 6.91%

B. 8.13%

C. 7.79%

D. 7.25% E. 8.85%

19. What is the expected variance for KMP stock? A. 66.04%

B. 69.96%

C. 77.04%

D. 63.72% E. 78.45%

20. If the nominal return is constant, the after-tax real rate of return A. declines as the inflation rate increases.

B. increases as the inflation rate increases.

C. declines as the inflation rate declines.

D. increases as the inflation rate decreases.

E. declines as the inflation rate increases and increases as the inflation rate decreases.