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Suppose the beta of Exxon-Mobil is 0.88, the risk-free rate is 2%, and the expected market rate of return is 7%. Calculate the expected rate

Suppose the beta of Exxon-Mobil is 0.88, the risk-free rate is 2%, and the expected market rate of return is 7%. Calculate the expected rate of return on Exxon-Mobil. [3 marks]

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