the returns on the market, the returns on united fund (UF), the risk-free rate, and the required return on the united funds are shown below. Assuming the market is in equilibrium and the beta can be estimated with historical data, what is the required return on the market, rM? year. market. UF 2003. -9% -14% 2004. 11% 16% 2005. 15% 22% 2006. 5% 7% 2007. -1% -2% united: 15.00% a. 10.57% b. 11.13% c. 11.72% d. 12.33% e. 12.95%