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A portfolio generates an annual return of 23.5%, a beta of 0.5, and a standard deviation of 25.5%. The market index return is 19.0% and

A portfolio generates an annual return of 23.5%, a beta of 0.5, and a standard deviation of 25.5%. The market index return is 19.0% and has a standard deviation of 23.5%. What is the M2 measure of the portfolio if the risk-free rate is 4%?

2.72%

2.17%

2.97%

3.23%

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