Consider the following performance data for two portfolio managers (A and B) and a common benchmark portfolio: BENCHMARK MANAGER A MANAGER B Weight Return Weight Return Weight Return Stock 0.7 -5.0% 0.7 -4.3% 0.3 -5.0% Bonds 0.2 -3.5 0.1 -2.2 0.4 -3.5 Cash 0.1 0.4 0.2 0.4 0.3 0.4 a. Calculate (1) the overall return to the benchmark portfolio, (2) the overall return to Manager A's actual portfolio, and (3) the overall return to Manager B's actual portfolio. Briefly comment on whether these managers have under- or outperformed the benchmark fund. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Overall return Benchmark % Manager A % Manager B % Manager A has -Select- the benchmark fund. Manager B has -Select the benchmark fund. b. Using attribution analysis, calculate (1) the selection effect, and (2) the allocation effect for both Manager A and Manager B. Using these numbers in conjunction with your results from Part a, comment on whether these managers have added value through their selection skills, their allocation skills, or both. Do not round intermediate calculations. Round your answers to two decimal places. If the answer is zero, enter "0". Manager A Manager B Selection effect Allocation effect % % % % Manager A has added value through his/her -Select- skills. Manager B has added value through his/her -Select- skills