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Suppose that the correlation coefficient between the returns of IBM and the market was 0.90, the standard deviation of returns of IBM was 38%, the

Suppose that the correlation coefficient between the returns of IBM and the market was 0.90, the standard deviation of returns of IBM was 38%, the standard deviation of the market was 24%, the risk free rate was 2%, and the expected return on the market was 8%. Estimate IBM's beta, and the fair expected rate of return on IBM according to the CAPM

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