You are employed in Ether Securities as a financial analyst. After a detailed analysis, you come up with the following $4$ securitiesSecurityBetaStandard Deviation of returnExpected ReturnW$00\%2\mathrm{.}5\%$X$1\mathrm{.}3833\mathrm{.}1\%5\mathrm{.}8\%$Y $0\mathrm{.}7314\%7\mathrm{.}0\%$Z $115\%8\mathrm{.}5\%$Assume the capital asset pricing model $($CAPM$)$ is valid, and securities W and Z are correctly priced based on CAPM.Required:$($a$)$ Determine the risk$-$free rate and market risk premium. $(3$ marks$)($b$)$ Calculate the CAPM required return for securities X and Y$.(12$ marks$)$Are X and Y correctly priced, and state whether they are on$,$ above or below the SML$.($c$)$ Calculate the portfolio beta and CAPM required return for a portfolio of $40$:$60$ X & Y$.(4$ marks$)($d$)$ You discover that security X is actually Meta Platforms, formerly known as Facebook. A significant portion of Metas revenue is from advertising. Metas various platforms, such as Facebook and Instagram, track users browsing activity and can allow advertisers to target users based on age, gender and location $($among other characteristics$).$ Mark Zuckerberg is the founder, board chair and CEO of Meta. Now, examine the CAPM required return you have calculated for security X in $($b$).$ Based on your understanding of the CAPM model and its assumptions, which of the following risks are included in the required return? Please explain.$(6$ marks$)$i$.$ Risk that Mark Zuckerberg will leave Meta Platformsii. Risk of global economic downturn will impact spending on advertising.iii. Risk that new privacy laws will restrict user data gathering and access.iv$.$ Risk that users will migrate to a different social media platform.v$.$ Risk that the UK competition regulator may order Meta to sell images platform Giphy, which Meta acquired in May $2020.$