b. For the time period indicated, rank these investments on a nikedjusted basis from most to least desirable. Explain vour rationale. c. Assume the retums in these senes are normally distributed (1) Caiculate the range of retums that an investor would have exp scied to achiave 95 percent of the time from holding common stocks (2) Suppose an investor holds real estate for this time period Determine the probability of at least breaking even on this investment. d. Assume you are holding a portfolio composed entirely of real estate Discuss the justification, if any, for adopting a moxed asset portfolo by adding long-term govemment bonds. (10 Marks) 3. You are given the following long-run annual rates of return for alternative