1. Flordia Company (FC) and Minnesota Company (MC) are both Multinational Corporations. Their stock returns for the past three years were as follows: FC: -7 percent, 16 percent, 24 percent; MC: 10 percent, 12 percent, 26 percent. You are required to calculation the followings: (Please show correct formulas and detailed workouts)

c. The correlation coefficient between the returns of FC and MC.

d. If FC and MC are combined into a portfolio with 50 percent of the funds invested in each stock, calculate the expected return on the portfolio.

(multi-part question)