Year 2021 Apple Stock Price $129.41 JPMorgan Chase & Co Stock Price S&P 500 Market Index Value $125.87 3,792.00 2020 $75.09 $141.09 3,259.00 2019 $39.48 $99.31 2,511.00 2018 $43.07 $107.95 2,692.90 2017 $29.04 $87.23 2,252.60 2016 $26.34 $63.62 2,009.10 Assume a market risk premium of 5.60% and a risk free-free rate of 1.37%. Calculate the expected return on the market (use the formula for RPM). Also calculate the required return (r) for Apple and JPMorgan Chase & Co according to the CAPM. (13 Points) For a portfolio that consists of 30% Apple stock and 70% JPMorgan Chase & Co stock, calculate the beta and required return? (13 Points)