You need to estimate the equity cost of capital for XYZ Corp. You have the following data available regarding past retums: a. What was XYZ's average historical return? b. Compute the market's and XYZ's excess returns for each year. Estimate XYZ's beta. c. Estimate XYZ's historical alpha. d. Suppose the current risk-free rate is 4%, and you expect the market's return to be 9%. Use the CAPM to estimate an expected return for XYZ Corp.'s stock. e. Would you base your estimate of XYZ's equity cost of capital on your answer in part (a) or in part (d)? a. vullat vas nico arciayc instuilual ictull! d. Suppose the current risk-free rate is 4%, and you expect the market's return to be 9%. Use the CAPM to estimate an expected return for XYZ Corp.'s stock. The expected return for XYZ Corp.'s stock was \%. (Round to two decimal places.) e. Would you base your estimate of XYZ's equity cost of capital on your answer in part (a) or in part (d)? (Select the best choice below.)