An investor buys 1 share of ABC Ltd at the price of $32 on December 31, 2019. The firm is not expected to pay any dividends. Consider the following three possible scenarios for the share price on December 31, 2020: $50 with a probability of 30%. $35 if the economy is "moderate", with a probability of 50%. $20 if the economy is "bad", with a probability of 20%. a a) Calculate the expected return for holding the share for a year. (2 marks) b) Calculate the variance of return and standard deviation of return. (2 marks) c) On January 1, 2021, the share is worth $39 and the investor just received a dividend of $2.5. Calculate the total holding period return and capital gains return over the one-year period. (2 marks) d) Give one example of a diversifiable risk, and one example of a systemic risk. Clearly label your examples. (2 marks) e) Consider the statement "The primary goal of diversification is to minimise risk". Is this true or false? Discuss. (2 marks)