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Consider a portfolio that offers an expected rate of return of 6 % and a standard deviation of 1 9 % . T - bills

Consider a portfolio that offers an expected rate of return of 6% and a standard deviation of 19%. 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 T-bills?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
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