d) Calculate the Net Present Value, Internal Rate of Return and Payback Period The financial controller is considering the use of the Capital Asset Pricing Model as a surrogate discount factor. The risk-free rate is 5 per cent. Stock Year Market Index Price Share 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2000 2400 2900 3500 4200 5000 5900 6000 6100 6200 6300 $15.00 $25.00 $33.00 $40.00 $45.00 $55.00 $62.00 $68.00 $74.00 $80.00 $83.33 e) Calculate the CAPM f) Explain why this figure may differ from that calculated above (i.e. Cost of equity - Ordinary Shares)