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Which of the following is NOT a risk premium incorporated in the Fama and French (1992) three-factor model of expected returns?
Selling Price
The amount for which a product or service is sold to buyers, determining the revenue generated from sales activities.
Unearned Ticket Revenue
Revenue received from tickets sold for future events, recognized as a liability until the service is performed or event takes place.
Sales Revenue
The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.
Payroll Taxes
Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.
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