An investor has AU$200,000 to invest. She borrowed an additional AU$100,000 at risk-free rate and invest the entire amount in a risky portfolio. Risk-free rate is 4%, and return and standard deviation of the risky portfolio are 10% and 18% respectively. Calculate reward-to-volatility ratio.

Now suppose the investor in the previous problem constructed an equally weighted portfolio with risky portfolio and risk-free asset. Other information remains same as in the problem. Calculate her Reward-to-volatility ratio