The market excess return is 12% and the risk-free rate is 3%. Assume CAPM is a good description of stock price returns. New information has led to the expected returns shown in the table, which stocks present an opportunity for Mary to buy and which should she choose to sell? Required Return Beta 1.666 20% Stock A Stock B Stock C Stock D Stock E Expected Return 25% 19% 16% 14% 16% 1.083 13% 1.166 Sell Stocks B and E, Buy Stocks A and D Sell Stocks B and E, Buy Stocks A, C and D Sell Stocks A and D, Buy Stocks B and E Sell Stocks A and D, Buy Stocks B, C and E