Consider the following information for stocks A$,$ B$,$ and C$.$ The returns on the three stocks are positively correlated, but they are not perfectly correlated. $($That is$,$ each of the correlation coefficients is between $0$ and $1.)$

Stock Expected Return Standard Deviation Beta

A $7\mathrm{.}65\%15\%0\mathrm{.}9$

B $9\mathrm{.}05151\mathrm{.}3$

C $9\mathrm{.}75151\mathrm{.}5$

Fund P has one$-$third of its funds invested in each of the three stocks. The risk$-$free rate is $4\mathrm{.}5\%,$ and the market is in equilibrium. $($That is$,$ required returns equal expected returns.$)$

What is the market risk premium $($rM $-$ rRF$)?$ Round your answer to one decimal place.

$\%$

What is the beta of Fund P$?$ Do not round intermediate calculations. Round your answer to two decimal places.

What is the required return of Fund P$?$ Do not round intermediate calculations. Round your answer to two decimal places.

$\%$

What would you expect the standard deviation of Fund P to be$?$

Less than $15\%$

Greater than $15\%$

Equal to $15\%$

$-$Select$-$