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You are an analyst at a small investment firm. The portfolio manager subscribes to the theory of CAPM, and would like to know the expected

You are an analyst at a small investment firm. The portfolio manager subscribes to the theory of CAPM, and would like to know the expected return of DDL, Inc. You know that the risk-free rate of return is 3.0%, and you research the historical returns of DDL, Inc. (below). What is the expected return? (20 marks) Year Asset Return Market Return 2022 15.00% 10.00% 2021 20.00% 13.00% 2020 -30.00% -8.00% 2019 -10.00% 2.00% 2018 45.00% 24.00%

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