b. Here are information from GX Management. Stock A Stock B S&P 500 Risk-free rate Forecast return 9% 16% 12% 5% Standard deviation 27% 35% 20% Beta 0.85 1.23 1.00 i. Explain which stock, A or B, would be classified as defensive. (2 marks) ii. Calculate expected return and alpha for each stock, according to the capital asset pricing model. (8 marks) iii. Based on (ii), what is your investment recommendation for an investor with a well- diversified portfolio? (4 marks)