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26. The separation property refers to the conclusion that A. the determination of the best risky portfolio is objective and the choice of the best complete portfolio is subjective. B. the choice of the best complete portfolio is objective and the determination of the best risky portfolio is objective. C. the choice of inputs to be used to determine the efficient fronticr is objective and the choice of the best CAL is subjective used to determine the efficient fronticr is subjective. E. investors are separate beings and will therefore have different peeferences regarding the risk-retun tradeoT 27. Consider expected rate of return of 12% and a standard deviation of 17% B has an expected rate of return of 9% and a standard deviation of 14% two perfectly negatively corelated risky securities A and 8 A has The risk-free portfolio that cam be formed with the two securities will cam of returt A 9.5% B. 10.4% C. 109% D. 9.9% A risky portfolio has an expected return of ion, and a standard deviation of 20% ne yield on the 30-day T-Bill is 3%. 28. For an investor with a coefficient of risk aversion A-3, the optimal complete portfolio invests what percentage of total wealth in the risky portfolio? a, 42% b.58% . 75% d. 126% 29. If45% of wealth is invested in the nsky portfolio and 55% in the T-Bil, what is the standard deviation of the complete portfolio? a. 20% b, 14% c. 9% d.6%