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Suppose that the market portfolio is equally likely to increase by 24% or decrease by 8%. Security X goes up on average by 29% when

Suppose that the market portfolio is equally likely to increase by 24% or decrease by 8%. Security "X" goes up on average by 29% when the market goes up and goes down by 11% when the market goes down. Security "Y" goes down on average by 16% when the market goes up and goes up by 16% when the market goes down. Security "Z" goes up on average by 4% when the market goes up and goes up by 4% when the market goes down. The expected return on the market portfolio is closest to: A. 16% B. 0% C. 8% D. 4%

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