Consider an economy spanned by N risky assets and a risk-free asset. The tangent portfolio (M) has an expected return of 20% and a standard deviation of 30%. You also know that Peter chooses to invest in an efficient portfolio (P) with an expected return of 12% and a standard deviation of 15%. a) Compute the risk-free rate (F) of this economy. b) What is the composition of the portfolio own by Peter? c) Michael wants to invest in another efficient portfolio (Q) that has a standard deviation of 40%. What would you recommend to him? Please clearly indicate the composition of his portfolio, and the expected return that he will be able to achieve