answer all questions with explanation

Assume that an investor faces a random liability L at time T = 1 and can also invest in an asset A with a random payoff at T = 1. The investor can also invest in a risk-free zero-coupon bond with face value 1 at T = 1. There are supposed to be three different possible outcomes. each with probability 1/ 3: Scenario 1: A = 100, L = 100 Scenario 2: A = 300, L = 200 Scenario 3: A = 300, L = 100 For the optimal portfolio that minimizes that E ((L ho h] 14)?) . determine the value of hl and write it in the box below. Round your result to two decimals