How do you calculate Rm for CAPM model?

In the Capital Asset Pricing Model (CAPM), the expected return of the market (Rm) can be calculated using the formula: Rm = Rf + (Beta * (Rm - Rf)), where Rf is the risk-free rate, and Beta represents the sensitivity of the asset's returns to market returns. Alternatively, Rm can be estimated using historical market return data, typically through the average return of a broad market index, such as the S&P 500, over a specific period. This average is then adjusted to account for expected future conditions, if necessary.