Assume that you manage a risky portfolio with an expected rate of return of 20% and a standard deviation of 44%. The T-bill rate is 4% A client prefers to invest in your portfolio a proportion (y) that maximizes the expected return on the overall portfolio subject to the constraint that the overall portfolio's standard deviation will not exceed 35%. (a) What is the investment proportion, y ? (b) What is the expected rate of return on the overall portfolio? You manage an equity fund with an expected risk premium of 13.4% and a standard deviation of 48%. The rate on Treasury bills is 5.6%. Your client chooses to invest $105,000 of her portfolio in your equity fund and $45,000 in a T-bill money market fund. What is the reward-to-volatility ratio for the equity fund