Consider the following two scenarios for the economy and the expected returns in each scenario for the market portfolio, an aggressive stock A$,$ and a defensive stock D$.$ Scenario Rate of Return Market Aggressive Stock A Defensive Stock D Bust $11\%14\%9\%$ Boom $334125$ Required: Find the beta of each stock. If each scenario is equally likely, find the expected rate of return on the market portfolio and on each stock. If the T$-$bill rate is $5\%,$ what does the CAPM say about the fair expected rate of return on the two stocks? Which stock seems to be a better buy on the basis of your answers to $($a$)$ through $($c$)?$