QUESTION 1 Below is a regression output for IBM using the past five years of MONTHLY data for the Fama-French 3 Factor Model. Additionally, during the NEXT year, the return on the market portfolio is 18%, the risk-free rate is 2%, the return on the SMB portfolio is 4% and the return on the HML portfolio is 5%. The actual returh for IBM next year will be 10% FAMA: FRENCH Intercept MKT-RF SMB 0.38 0.82 -0.35 HML -0.21 IBM's alpha (annualized) next year is 96. Click Save and Submit to save and submit. Click Save An Anwento save all answers MacBook Pro esc $ % & 7 1 2 3 4 5 6 8