Suppose that you regress a mutual fund's monthly excess returns on the S&P 500 excess return and obtain the following estimates (t-statistics are in parentheses): Intercept 0.012 [2.46] Slope 0.903 [9.56] R-Square 80.45% Assume that S&P 500 represents the market portfolio. Which of the following statements are correct based on your finding above? 1. The hypothesis that this fund is correctly priced based on CAPM cannot be rejected. II. If the market risk premium is 9% and the riskless rate is 3%, the CAPM implied expected rate of return on the fund is 11.13%. III. The fund returns joint variation with the market return explains more than 80% of the variation in the fund's return. A. I and III B. I, II, and III C. II and III O D. I and