Suppose that the S&P 500, with a beta of 1.0, has an expected return of 12% and T-bills provide a risk-free return of 3%. a. What would be the expected return and beta of portfolios constructed from these two assets with weights in the S&P 500 of (0) 0; (ii) 0.25; (ii) 0.50; (iv) 0.75; (V) 1.0? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Enter the value of Expected return as a percentage rounded to 2 decimal places and value of Beta rounded to 2 decimal places.) Expected Return Beta % 0 0 (ii) 0.25 (iii) 0.50 (iv) 0.75 (v) 1.0 % % % b. How does expected return vary with beta? (Do not round intermediate calculations.) The expected return increases by % for a one unit increase in beta