Assume you are considering a portfolio containing two assets, L and M. will represent 39% of the dollar value of the portfolio, and assets M will account for the other 61%. The projected returns over the next 6 years, 2018-2023, for each of these assets are summarized in the following table:

\begin{tabular}{ccc} & Projected Return \\ \cline { 2 - 3 } Year & Asset L & Asset M \\ \hline 2018 & 15% & 19% \\ 2019 & 13% & 17% \\ 2020 & 15% & 17% \\ 2021 & 17% & 15% \\ 2022 & 17% & 13% \\ 2023 & 20% & 10% \end{tabular} a. Calculate the projected portfolio return, rp, for each of the 6 years. b. Calculate the average expected portfolio return, rp, over the 6 -year period. c. Calculate the standard deviation of expected portfolio returns, sp, over the 6 -year period d. How would you characterize the correlation of returns of the two assets L and M? e. Discuss any benefits of diversification achieved through creation of the portfolio