Which of the following statements is NOT true? Select one: O a. CAPM is a model of price formation that represents equilibrium risk-reward relations pertaining only to stock markets O b. CAPM assumes no transaction costs O c. The security market line (SML) represents the equllibrium relation entailed by CAPM O d. According to CAPM. it is impossible for an asset to be off the SML O e. CAPM assumes market efficiency O f. CAPM assumes that borrowing equal lending