Assume that the CAPM holds. The risk-free rate is 3%. A portfolio Q that is a combination of the risk-free asset and the market portfolio has an expected return of 12% and a return standard deviation of 18%. The expected return on the market portfolio is 15%. (a) What is the volatility of the market return? (b) Consider a security X. Its returns have a 0.40 correlation with the returns on the market portfolio and a standard deviation of 36%. What is its B? (c) What rate of return would you expect for X? (d) Comment on the market risk associated with security X