Consider a three-factor APT model. The factors and associated risk premiums abe: Factor Change in gross national product (GNP) Change in energy prices Change in long-term interest rates Risk Premiun (3) +6.5 0.5 +2.9 Calculate expected rates of return on the following stocks. The risk-free interest rate is 6.8%. O. A stock whose return is uncorrelated with all three factors. (Enter your answer as a percent rounded to 1 decimal place.) b. A stock with average exposure fo each factor (te, with b=1 for each). (Enter your answer as a percent rounded to 1 decimal place.) c. A pure play energy stock with high exposure to the energy factor (b=22) but zero exposure to the other two factors. (Enter your answer os o percent rounded to 2 decimal places.) d. An aluminum company stock with average sensitivity to changes in interest rates and GNP, but negative exposure of b=-15 to the energy factor (The aluminum company is energy intensive and suffers when energy prices rise.) (Enter your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. 6.8 Expected rate of return Funerted rate of return 157 X