Question 5 Not yet answered Marked out of 3.125 P Flag question Wallace set up the following portfolio one year ago: Asset Cost Beta at purchase Yearly income Value today $20,000 0.7 $1,400 $22,000 Y $30,000 1.5 $32,000 At the time Wallace made his investments, he estimated that the market return and risk-free rate for the coming year would be 12% and 4%, respectively. Which of the following is true? Select one: a. This portfolio earned a return less than the expected market return. b. This portfolio earned a return greater than the expected market return. c. This portfolio is less risky than the market. d. Asset Y was not a good investment because it did not provide yearly income. e. None of the above