As of June 30, 2021, USMAF had the following investment portfolio outlined in the table below. Based on the data provided, answer the following questions. (7 points) Asset Value Beta Common and foreign stocks 3,743,351 0.55 US government obligations 297,468 1.05 Corporate bonds 1,151,566 0.95 Mortgage-backed securities 362,459 1.10 Mutual funds 2,000,242 1.25 TOTAL 7,555,086 a. What is the beta of this portfolio? b. If the risk-free rate is 8% and the market risk premium is 4%, what is USMAFs required rate of return? c. If the markets expected rate of return is 7% and the risk-free rate is 5%, what is USMAFs required rate of return?