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What of the following statements about the SML (Security Market Line) approach is not correct? The SML approach explicitly adjusts for systematic risk. The SML

What of the following statements about the SML (Security Market Line) approach is not correct? The SML approach explicitly adjusts for systematic risk. The SML approach is applicable to all companies, including those companies which do not pay dividends. The SML approach must estimate the expected market risk premium and beta, which are stable over time. The SML approach relies on the past to predict the future, which is not always reliable

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