The table below contains the monthly closing prices for Waste Management and the S&P 500 Index for the past five years. Use the prices in the table and the values provided to the right of this box to answer the following questions: (a) What is the beta for Waste Management? (b) According to the CAPM, what is the required return on Waste Management stock? U.S. Treasury Rate Expected Return on the S&P 500 2.90% 8.50% Date 4/1/2022 3/1/2022 2/1/2022 1/1/2022 12/1/2021 11/1/2021 10/1/2021 9/1/2021 8/1/2021 7/1/2021 6/1/2021 5/1/2021 4/1/2021 3/1/2021 2/1/2021 1/1/2021 12/1/2020 11/1/2020 10/1/2020 9/1/2020 8/1/2020 7/1/2020 6/1/2020 5/1/2020 4/1/2020 3/1/2020 2/1/2020 1/1/2020 12/1/2019 11/1/2019 10/1/2019 9/1/2019 8/1/2019 7/1/2019 6/1/2019 5/1/2019 4/1/2019 3/1/2019 2/1/2019 1/1/2019 12/1/2018 11/1/2018 10/1/2018 9/1/2018 8/1/2018 7/1/2018 6/1/2018 5/1/2018 4/1/2018 3/1/2018 2/1/2018 1/1/2018 12/1/2017 11/1/2017 10/1/2017 9/1/2017 8/1/2017 7/1/2017 6/1/2017 5/1/2017 S&P 500 Waste Management 4271.78 $ 157.51 4530.41 $ 157.84 4373.94 $ 143.80 4515.55 $ 149.81 4766.18 $ 165.61 4567.00 $ 159.42 4605 38 S 158.99 4307 54 $ 147.65 4522.68 $ 153.34 4395.26 S 146.57 4297.50 $ 137.95 4204.11 $ 138.51 4181.17 $ 135.84 3972.89 $ 126.43 3811.15 $ 108.66 3714.24 $ 109.08 3756.07 $ 115.02 3621.63 $ 116.19 3269.96 $ 105.25 3363.00 $ 109.85 3500.31 $ 110.66 3271.12 $ 106.39 3100.29 $ 102.30 3044.31 $ 103.11 2912.43 $ 96.61 2584.59 $ 89.00 2954.22 $ 106.54 3225 52 S 117.02 3230.78 $ 109.08 3140.98 $ 108.07 3037.56 $ 107.40 2976.74 $ 109.60 2926.46 $ 113.75 2980 38 $ 111.51 2941.76 $ 109.46 2752.06 $ 103.75 2945.83 $ 101.84 2834.40 $ 98.08 2784.49 $ 95.57 2704.10 $ 90.30 2506.85 $ 84.00 2760.17 S 88.05 2711.74 $ 84.03 2913.98 $ 84.43 2901.52 $ 84.94 2816.29 $ 84.09 2718.37 S 75.58 2705 27 $ 76.85 2648.05 $ 75.53 2640.87 $ 77.74 2713.83 $ 79.77 2823.81 $ 81.72 2673.61 $ 79.75 2647.58 $ 75.62 2575.26 $ 75.55 2519.36 $ 71.56 2471.65 $ 70.50 2470.30 $ 68.71 2423.41 $ 66.67 2411.80 $ 66.27
