Consider historical data showing that the average annual rate of return on

the S&P $500$ portfolio over the past $95$ years has averaged roughly $8\%$

more than the Treasury bill return and that the S&P $500$ standard deviation

has been about $20\%$ per year. Assume these values are representative of

investors' expectations for future performance and that the current T$-$bill

rate is $2\%.$

Calculate the utility levels of each portfolio for an investor with $A=2.$

Assume the utility function is $U=E(r)-0\mathrm{.}5A{}^2.$

Note: Do not round intermediate calculations. Round your answers to $4$

decimal places.