Consider a portfolio that offers an expected rate of return of 10% and a standard deviation of 22%. T-bills offer a risk-free 4% rate of return. What is the maximum level of risk aversion for which the risky portfolio is still preferred to bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Maximum level of risk aversion must be less than Assume that you manage a risky portfolio with an expected rate of return of 19% and a standard deviation of 33%. The T-bill rate is 7%. Your client chooses to invest 80% of a portfolio in your fund and 20% in an essentially risk-free money market fund. What is the expected value and standard deviation of the rate of return on his portfolio? (Do not round intermediate calculations. Round your answers to 1 decimal place.) Expected return Standard deviation