The High-Growth mutual fund earned a return last year of 9% and had a beta of 1.2. The Value Stock fund earned a return of 14% and had a beta of 1.5. The risk-free rate was 4%, and the market return was 10%. Did either fund earn an abnormal return? Positive or negative?

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Part 1

The expected return for the High-Growth mutual fund is...

(Enter as a percentage and round to one decimal place.)

The expected return for The Value Stock Fund is....