A small market consists of three stocks, A, B, and C. and their financial data and projection are presented below. Assume CAPM holds. Stock Number of shares Stock Price Beta 750 1.2 220 0.8 460 19 1.4 Economic condition Probability Boom 20% 20% 22% 23% Normal 50% 15% 10% 12% Recession 30% 2% 5% 7% Find: a) the expected return and standard deviation on this portfolio. (2 marks) b) the expected return on the market using portfolio beta if R=5%