Enterprise X$\text{'}$s stock has a beta of $1\mathrm{.}30,$ and its required return is $11\mathrm{.}50\%.$ Innovation Y$\text{'}$s beta is $0\mathrm{.}80.$ The risk$-$free rate is $2\mathrm{.}75\%.$ a$.$ Explain the Capital Asset Pricing Model $($CAPM$)$ and its components. $(4$ marks$)$b$.$ What role does beta play in the CAPM? $(2$ marks$)$c$.$ Calculate the market risk premium. $(4$ marks$)$d$.$ What is the required rate of return on Innovation Y$\text{'}$s stock? $(4$ marks$)$