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Question 5 Your younger brother knows that the beta of his portfolio is equal to one and the expect return on the market is 12%.

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Question 5 Your younger brother knows that the beta of his portfolio is equal to one and the expect return on the market is 12%. However, he does not know the risk-free rate or the market r premium. What is the expected return on his portfolio? Show your workings and round your final answers to 2 decimal places

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