Given the following chart of hypothetical investment alternatives: Economy Prob. T-Bills Luxury Retail Alcohol US Steel Market Portfolio Recession 0.10 4% -33.60% 28.00% 4.50% -21.00% 0.25 -17.50% 16.50% -17.00% -8.00% Average 0.30 19.30% -2.00% 1.50% 9.50% Above avg 0.25 4% 26.50% -9.00% 39.50% 16.40% Boom 0.10 4% 37.00% -14.00% 21.00% 29.50% Below avg 4% 4% a. Calculate the expected return for each of the five types of investments. b. Calculate the expected return of a portfolio that is composed of all 5 investments, equally weighted c. Calculate the expected return of a portfolio that is composed of Luxury Retain, Alcohol, and US Steel, equally weighted. d. Calculate the expected return of a portfolio that is composed of T-bills and the Market Portfolio, equally weighted. e. Calculate the expected return of a portfolio that is composed of 50% Luxury Retail, 25% Alcohol, and 25% Market Portfolio. f. Which of the portfolios constructed in parts b-e would you prefer to invest in and why