According to the website The Motley Fool, the 10-year, 30-year, and 50-year average annualized stock market returns were as follows:

10 years (2012-2021) 14.8%

30 years (1992-2021) 9.9%

50 years (1972-2021) 9.4%

Assuming that (i) the risk-free rate is 3% regardless of the length of the time period and (ii) the beta for Apple of 1.21 is correct. Using the capital asset price (CAPM) model, complete the table below for the expected return on equity:

10-year return on equity estimate
30-year return on equity estimate
50-year return on equity estimate