Assume a world that satisfies the assumptions of portfolio theory. The expected return of market portfolio $M$ is $11\%$ per year. The

risk of $M$ is expressed in the standard deviation of return, which is equal to $24\%.$ The risk$-$free interest rate is $5\%$ per year. Investor

$x$ has a portfolio with an expected return of $15\%$ per year. Investor $x\text{'}$s equity is $5400.$

Which of the statements below is correct?

Investor $x$ lends $0$ and invests $5400$ in $M.$

Investor $x$ borrows $9000\mathrm{.}0$ and invests $14400\mathrm{.}0$ in $M.$

Investor $x$ lends $5400$ and invests $0$ in $M.$

Investor $x$ borrows $3600\mathrm{.}0$ and invests $9000\mathrm{.}0$ in M$.$