c. Calculate the geometric average returns of each stock. 4. Calculate the expected return based on the information in the table below State of economy Probability of state of Rate of return if state economy Recession -.07 Normal Boom .10 occurs 30 .60 .13 23 5. The twenty-first century closed-end fund has GHS350 million in securities, GHS8 million in liabilities and 20 million in shares outstanding. It trades at a 10% discount from net asset value (NAV) a. What is the net asset value of the fund? b. What is the current price of the fund? c. Suggest two reasons why the fund may be trading at a discount from net asset value 6. The new pioneer closed-fund has GHS520 million in securities, GHS5 in liabilities, and 10 million shares outstanding. It trades at a 5% premium above its net asset value (NAV). a. What is the net asset value of the fund? b. What is the current price of the fund? Why might a fund trade at a premium above its net asset value? c. 7. A portfolio consists of 120 shares of Accra stock, which sells for Ghe50 per share, and 150 shares of Kumasi stock, which sells for Ghc20 per share. What are the weights of the two stocks in this portfolio? 8. Security F has an expected return of 12 percent and a standard deviation of 9 percent per year. Security G has an expected return of 18 percent and a standard deviation of 25% per year. a. What is the expected return on a portfolio composed of 30 percent of security F and 70 percent of security G? b. If the correlation coefficient between the returns of F and G is 0.2, what is the standard deviation of the portfolio