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13. Consider the single factor APT Portfolio A has a beta of 109 and an expected return of 22%. Portfolio B has a beta of 98 and an expected return of 13%. The risk-free rate of return is 2.85%. If you wanted to take advantage of an arbitrage opportunity, you should take a short position in portfolio and a long position in portfolio because portfolio A provides risk premium of and portfolio B provides risk premium of which should converge under no-arbitrage condition 14. You have a $45,000 portfolio consisting of Intel, GE, and Con Edison. You put $12,000 in Intel, $18,000 in GE, and the rest in Con Edison Intel, GE, and Con Edison have betas of 1.42, 1.12, and 753, respectively. What is your portfolio beta