3 You are examining a portfolio consisting of three stocks. Using the data in the table a. Compute the annual returns for a portfolio with 20% invested in North Air, 25% invested in West Air, and 55% invested in Tex Oil. b. What is the lowest annual return for your portfolio in part (a)? How does it compare with the lowest annual return of the individual stocks or portfolios in the table above. a. Compute the annual returns for a portfolio with 20% invested in North Air, 25% invested in West Air, and 55% invested in Tex Oil. The annual return for 2014 will be: (Round to two decimal places.) Year North Air West Air Tex Oil Portfolio 2014 22% 10% -2% % (Click on the following icon e in order to copy its contents into a spreadsheet.) Stock Returns Portfolio Returns 1 1 2 (Rv+Rw) (Rw+R4) ( + Year 2014 2015 2016 2017 2018 2019 Average Return Volatility North Air 22% 29% 6% -5% -2% 10% 10.0% 13.3% West Air 10% 22% 6% -2% - 5% 29% Tex Oil -2% - 5% 10% 22% 29% 6% 16.0% 25.5% 6.0% - 3.5% -3.5% 19.5% 10.0% 12.2% 4.0% 8.5% 8.0% 10.0% 12.0% 17.5% 10.0% 4.5% 10.0% 13.3% 10.0% 13.3%