Part 2- Problems 21) Cassius Clay, a portfolio manager, is using the capital asset pricing model to make recommendations to his clients. His research department has developed the information shown in the following exhibit: Stock X Stock Y Market index Risk-free rate Forecasted return 16.25% 17.25 12.50 Standard deviation 23.00 25.00 14.00 Beta 1.4 1.5 1.0 3.00 a. Identify which stock would be more appropriate for an investor who wants to add this stock to a well-diversified equity portfolio. Show your work and explain your answer. Identify which stock would be more appropriate for an investor who wants to hold this stock as a single-stock portfolio. Show your work and explain your answer b