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3. You can lend and borrow at the risk-free rate of 3%. SPY is an ETF that tracks the S&P 500. Its expected return is 10%, and its standard deviation is 20%. You have $10,000 to invest. a) What transactions would you undertake to obtain a beta of 0.6? What are the expected return and standard deviation of your portfolio? b) Assume that you undertake the transactions in part a) and that after one year the return of SPY is -15%. What is the rate of return of your portfolio