9. You have recently become very interested in real estate. To gain some experience as a real estate investor, you have decided to get together with nine of your friends to buy three small cottages near campus. If you and your friends pool your money, you will have just enough to buy the three properties. Since each investment requires the same amount of money and you will have a 10 2 Fundamentals of Financial Management|2019 percent interest in each, you will effectively haveone-third of your portfolio invested in each cottage. While the cottages cost the same, they are different distances from campus and in different neighborhoods. You believe that this causes them to have different levels of systematic risk, and you estimate that the betas for the individual cottages are 1.2, 1.3, and 1.5. If the risk-free rate is 4 percent and the market risk premium is 6 percent, what will be the expected return on your real estate portfolio after you make all three investments