The expected return for the market is 12 percent with a standard deviation of 21 percent. The risk-free rate is 8 percent. Information is available for five mutual funds, all assumed to be efficient:

Mutual Funds	(%)
Affiliated	14
Omega	16
Ivy	21
Value Line Fund	25
New Horizons	30

1. Calculate the slope of the CML.
2. Calculate the expected return for each fund.
3. Rank the funds in increasing order of risk.
4. Do any of the funds have the same expected return as the market? Why?