3. Suppose an investor invests her money in three different assets-lands, bonds and stocks-and three possible states can occur. The return matrix of these three assets by states is as follows: 1.05 1.52 1.37 0.90 1.20 1.10 1.02 1.24 1.16 Do state prices exist? Is there an arbitrage portfolio? If yes, give one example. If no, explain why. 3. Suppose an investor invests her money in three different assets-lands, bonds and stocks-and three possible states can occur. The return matrix of these three assets by states is as follows: 1.05 1.52 1.37 0.90 1.20 1.10 1.02 1.24 1.16 Do state prices exist? Is there an arbitrage portfolio? If yes, give one example. If no, explain why