Time

Risk-free rate

Beta

Market premium

Expected return

Y1

16.9%

0.32

75.8%

0.41

Y2

22.6%

1.02

36.3%

0.60

Y3

14.2%

1.99

−91.1%

−1.67

Yearly average

17.9%

1.34

7%

0.28