First Investment Trust is a mutual fund investing in the common stock of six firms. The firms, market value of shares held, and the beta of each stock are as follows: MARKET VALUE OF FIRM SHARES HELD Ace Electronics $ 200,000 1.5 Bob's Industries 1,000,000 2.0 CBM International 300,000 1.0 Dave's Cen 500,000 1.2 Ed's Eatery 500,000 Total $2,500,000 0.7 21. Calculate the beta of the mutual fund. 1.42 d. 1.52 1.17 1.26 1.34 22. Suppose Rm=9 percent and Rp=4 percent: what is the expected portfolio return? 15.70 percent d. 14.90 percent 12.90 percent e. 11.10 percent 10.70 percent