Consider the following table, which gives a security analysts expected return on two stocks in two particular scenarios for the rate of return on the market:

Market Return		Aggressive Stock		Defensive Stock
6	%	4	%	7	%
23		37		11

a. What are the betas of the two stocks? (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. What is the expected rate of return on each stock if the two scenarios for the market return are equally likely to be 6% or 23%? (Do not round intermediate calculations. Round your answers to 1 decimal place.) e. What hurdle rate should be used by the management of the aggressive firm for a project with the risk characteristics of the defensive firms stock if the two scenarios for the market return are equally likely? Also, assume a T-Bill rate of 7%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)