A mutual fund earned an arithmetic average return of 7.8% between January 1, 2012 and December 31, 2019. The geometric average return during the same period was 6.9%. If the market value of the portfolio at the beginning of 2012 was $1 million, what was the market value of the portfolio in $million at the end of 2019? A. 1.692 B. 1.595 C. 1.824 D. 1.705