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. Which of the following is not one of the assumptions of the CAPM? a. All investors have the same one-period time horizon. b. There

. Which of the following is not one of the assumptions of the CAPM?

a. All investors have the same one-period time horizon.

b. There are no personal income taxes.

c. There is no interest rate charged on borrowing.

d. There are no transaction costs.

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