All of the following would be considered a private encumbrance on real property Except?

Consider the data on expected returns and betas for a variety of assets in the table below. What is the expected return on shares of Bank of America using the SML?

Asset Expected Return Beta Bank of America 0.9 Risk Free Asset 4% 0 Market Portfolio 10% 1 A) 5.4% B) 6.0% C) 8.2% D) 9.4% E) 11.2%

Commercial paper would be considered appropriate for funding which types of corporate needs?

A) the purchase of capital equipment with lives of 5 years or longer B) seasonal needs for a retail firm C) financing long-term property purchases D) all of the above