*********** No Excel work please ***************8

3. Consider the following information about Amber Pharmaceuticals stock price. Assuming that the market is in equilibrium (i.e. Expected rate of return = required rate of return): Year 31-Dec-17 31-Dec-'18 31-Dec-19 31-Dec-20 Year-end stock price $666 878 768 868 The market risk premium is 8%, and the risk-free rate is 4%. How much is the unsystematic risk for Renata Pharmaceuticals? [7 Marks] 3. Consider the following information about Amber Pharmaceuticals stock price. Assuming that the market is in equilibrium (i.e. Expected rate of return = required rate of return): Year 31-Dec-17 31-Dec-'18 31-Dec-19 31-Dec-20 Year-end stock price $666 878 768 868 The market risk premium is 8%, and the risk-free rate is 4%. How much is the unsystematic risk for Renata Pharmaceuticals? [7 Marks]