Assume that the market is in equilibrium and that stock betas can be estimated with historical data. The returns on the market, the returns on United Fund (UF), the risk-free rate, and the required return on the United Fund are shown below. Based on this information, what is the required return on the market, r ? M Year Market UF 2011 -9% -14% 2012 11% 16% 2013 15% 22% 2014 5% 7% 2015 -1% -2% r : 7.00%; rUnited: 20.00%; RF Select the correct answer. a. 15.83% b. 15.75% c. 15.67% d. 15.99% e. 15.91%