A. You have a $60.000 to invest in a portfolio. You want to put $33,000 investment into Bruno Master (B) and $27000 investment into NewTorch (N). State of the Economy Probability E(Rp) E(RN) W % Depression 0.17 12.5 -7.50 Recession 0.27 11.00 0.00 10+ Normal 0.36 8.50 10.50 Boom 0.20 4.50 16.00 a. Calculate the 1.) expected return on Bruno Master, E(R). ii.) expected return on New Torch, E(R.). 1.) expected return on the portfolio, E(R). 1 b. Calculate the portfolio standard deviation, c. Calculate the covariance and the correlation coefficient. How does the correlation coefficient explain the results? d. Assume the correlations of -5.0.5 and 1. Recalculate the portfolio risk measures with these correlations. Explain how your results change