Stock "A" has a level of systematic risk, Beta_A = 1.5, and statistics show that the expected return on the market portfolio is 12% and the risk-free rate is 4%. "A" has an observed rate of return of 12%. Which of the following statements are true regarding A Its Treynor ratio is lower than Treynor's ratio for M 1. It will be sold in the market to restore equilibrium III It will have a lower Sharpe ratio than M O a. I only bill only OcI, II, and III O d.I and II only O e III only