Consider historical data showing that the average annual rate of return on the S&P 500 portfolio over the past 85 years has averaged roughly 8% more than the Treasury bill return and that the S&P 500 standard deviation has been about 21% per year. Assume these values are representative of investors' expectations for future performance and that the current T-bill rate is 4%. Calculate the utility levels of each portfolio for an investor with A = 3. Assume the utility function is U = E(r) 0.5 A2. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 4 decimal places.)

\begin{tabular}{|r|r|l|} \hline \multicolumn{1}{|c|}{ WBills } & \multicolumn{1}{|c|}{ WIndex } & U(A=3) \\ \hline 0.0 & 1.0 & \\ \hline 0.2 & 0.8 & \\ \hline 0.4 & 0.6 & \\ \hline 0.6 & 0.4 & \\ \hline 0.8 & 0.2 & \\ \hline 1.0 & 0.0 & \\ \hline \end{tabular}