Can someone please show the work for 21,22,23. I have the answers

Variance Return) Return Beta Variance esidua 0.09 0.05 0.02 0.00900 0.01975 0.01375 1.8 AAPL 0.15 0.11 0.07 XOM 0.5 21. Assume the expected market return is 9%, the market variance is 0.025, and the T-Bill rate is 3%. For a portfolio with the following weights: 70% in AAPL, 15% in MMM, 15% in XOM. Form a zero-beta portfolio and report the weights in the active and passive portfolios as well as the alpha for the zero-beta portfolio. Variance Residual) Beta Variance (Return) Return 0.14 0.10 0.09 0.080 0.055 0.025 AAPL 1.4 XOM 0.9 22. Assume the expected market return is 9%, the market variance is 0.025, and the T-Bill rate is 3%. For a portfolio with the following weights: 60% in AAPL, 20% in MMM, 20% in XOM. Form a zero-beta portfolio and report the weights in the active and passive portfolios as well as the alpha for the zero-beta portfolio. 23. General Mills (GIS), currently trading for $62.13 per share, has the following financial information (all numbers in millions): total assets of $21,913, total liabilities of $17,004, earnings before interest and taxes of $645, depreciation of $600, capital expenditures of $300, change in net working capital of S50, and 592 shares outstanding. They have a tax rate of 35%, a payout ratio of 929 and a beta of 0.45. Assume a market return of 10% and a risk free rate of 2%. a. What is GIS's intrinsic value using constant growth DDM? b. What is GIS's intrinsic value using constant growth free cash flow? c. What is GIS's intrinsic value using residual income? d. Is GIS over or under valued? Why? Variance Return) Return Beta Variance esidua 0.09 0.05 0.02 0.00900 0.01975 0.01375 1.8 AAPL 0.15 0.11 0.07 XOM 0.5 21. Assume the expected market return is 9%, the market variance is 0.025, and the T-Bill rate is 3%. For a portfolio with the following weights: 70% in AAPL, 15% in MMM, 15% in XOM. Form a zero-beta portfolio and report the weights in the active and passive portfolios as well as the alpha for the zero-beta portfolio. Variance Residual) Beta Variance (Return) Return 0.14 0.10 0.09 0.080 0.055 0.025 AAPL 1.4 XOM 0.9 22. Assume the expected market return is 9%, the market variance is 0.025, and the T-Bill rate is 3%. For a portfolio with the following weights: 60% in AAPL, 20% in MMM, 20% in XOM. Form a zero-beta portfolio and report the weights in the active and passive portfolios as well as the alpha for the zero-beta portfolio. 23. General Mills (GIS), currently trading for $62.13 per share, has the following financial information (all numbers in millions): total assets of $21,913, total liabilities of $17,004, earnings before interest and taxes of $645, depreciation of $600, capital expenditures of $300, change in net working capital of S50, and 592 shares outstanding. They have a tax rate of 35%, a payout ratio of 929 and a beta of 0.45. Assume a market return of 10% and a risk free rate of 2%. a. What is GIS's intrinsic value using constant growth DDM? b. What is GIS's intrinsic value using constant growth free cash flow? c. What is GIS's intrinsic value using residual income? d. Is GIS over or under valued? Why