1. Asset A has an expected return of 30% and a reward-to-variability ratio of 0.4. Asset B has an expected return of 15% and a reward-to-variability ratio of 0.35. A risk-averse investor would prefer a portfolio using the risk-free asset and ______.

   		a. Asset A
   		b. Asset B
   		c. No risky asset
   		d. Answer cannot be determined given the data