The Treasury bill rate is 5%, and the expected return on the market portfolio is 13%. According to the capital asset pricing model:

a. What is the risk premium on the market?

b. What is the required return on an investment with a beta of 1.8?

If an investment with a beta of 0.6 offers an expected return of 8.8%, does it have a positive or negative NPV?

d. If the market expected a return of 11.8% from stock X, what is its beta?