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Suppose the risk-free return is 6%. The beta of a managed portfolio is 1.5, the alpha is 3%, and the average return Is 18%. Based

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Suppose the risk-free return is 6%. The beta of a managed portfolio is 1.5, the alpha is 3%, and the average return Is 18%. Based on Jensen's measure of portfolio performance, you would calculate the return on the market portfolio as Multiple Choice 15% 14%. 16% 12%

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