Discuss whether each of following statements is true or false and WHY. a. The robust empirical asset-pricing evidences show that the portfolio of the bottom 10% book-to-market ratio stocks outperforms the portfolio of the top 10% book-to-market ratio stocks in terms of the two portfolios' returns over five years. (10 points) b. Suppose a stock's return is ri = E(ri) + B;F + ei, where F is the systematic factor and e; is the stock-specific factor. The arbitrage pricing theory implies the following equation for sure. E(ri) = rf + Bi(E(rm) rf), where rf is the risk-free rate and rm is the return of the market portfolio. (10 points)