Elmo works at the Square Root Alpha Fund and is thinking of using the following Elmo Ratio for performance evaluation: (Elrpl-rp/clop)0.5(Bp)0.51 Consider portfolio K and the following strategies below: i. Mix K with risk free lending, where the weight in the risk free asset is greater than 0 and less than 100% ii. Mix K with risk free borrowing Which of the statements below is correct? It is possible to create an arbitrarily high Elmo Ratio by optimally using strategy i It is possible to create an arbitrarily high Elmo Ratio by optimally using strategy ii The Elmo ratio of strategies i and i will be the same as the Elmo Ratio of K The Elmo ratio of i will be lower than the Elmo ratio of ii The Elmo ratio of ii will be lower than the Elmo ratio of i None of the above