Consider a risky portfolio. The cash flow derived from the portfolio

at the end of year $3$ will be either $$50,000,60,000,80,000$ or

$$110,000,$ with equal probabilities of $0\mathrm{.}25.$ The alternative riskless

investment in T$-$bills pays $5\%.$ If you require a risk premium of

$6\mathrm{.}5\%,$ how much will you be willing to pay for the portfolio?

$$38,435\mathrm{.}21$

$$56,378\mathrm{.}62$

$$45,932\mathrm{.}56$

$$54,104\mathrm{.}91$

$$61,357\mathrm{.}84$