A safety-first client has a liability return, 0 = 6%. The following two portfolios are available: PX which has an Expected return, E(r) of 10% and a sigma, o of 2%. PY which has an Expected return, E(r) of 16% and a sigma, o of Identify the correct statement. A. The client will prefer PX over PY. B. The client will prefer PY over PX. C. The client will be indifferent between PX and PY. D. The client will prefer