Assume that your cousin holds just one stock, Eastman Chemical Bonding (ECB), which he thinks has very little risk. You agree that the stock is relatively safe, but you want to demonstrate that his risk would be even lower if he were more diversified. You obtain the following returns data fa Wilder's Creations and Buildings (WCB). Both companies have had less variability than most other stocks over the past 5 years. Measured by the standard deviation of returns, by how much would your cousin's risk have been reduced if he had held a portfolio consisting of 60% in ECB and t remainder in WCB? (Hint: Use the sample standard deviation formula.) WCB 40.00% Year 2011 2012 2013 ECB 40.00% -10.00% 35.00% 15.00% 2014 -5.00% -5.00% -10.00% 35.00% 2015 15.00% 15.00% 15.00% 22.6496 Average return Standard deviation = Select the correct answer. 22.6496 a. 3.81% b. 3.87% C. 3.90M d. 3.84% e. 3.93%