1 12 four-stock portfolio? d. If the investor sells $2,000 of Security K, what will be the expected return of the remaining three-stock portfolio? 8. (Rate of return on a portfolio) A portfolio has been constructed from the following securities: Security Expected return Amount invested P 5% $40,000 Q 18 25,000 R 15 35,000 a. What is the expected rate of return from this port- folio? b. If Security Q is sold, what will be the expected re- turn of the remaining two-stock portfolio? c. If the investor buys $50,000 of Security S, with ex- pected return of 10%, and adds it to the portfolio, what will be the expected return of the resulting four-stock portfolio? d. If the investor sells $20,000 of Security R, what will be the expected return of the remaining three-stock portfolio? 9. (Risk of a portfolio) Stocks T, U, and V have provided the following returns to investors over the past five years: 13. Year Stock T Stock U Stock V 2015 2016 2017 2018 2019 15% -10 20 35 5 15% -10 20 35 5 5% 30 0 -15 15 14. a. What was the average annual rate of return on each stock? b. What would have been the average rate of return