Hassan Alhadad is a portfolio manager. As part of his responsibilities, he must perform an annual review for the recommendations made to him regarding portfolios being considered for the coming year. The risk-free rate is 4%. He is currently considering the portfolios whose expected returns, betas and standard deviations are given below: Which portfolios lie below the CML?* Portfolio Expected Return 8% 18% 16% 7% Beta Standard Deviation 1.3 8.8% 2.0 12.4% 1.4 10.1% 0.6 0.9% 1.2 6.5% 1.0 5.0% 13% Market portfolio 10% O Portfolios 2, 3, and 5. Portfolios 1, 2, and 5. Portfolios 1 and 4. All the portfolios lie below the CML. Portfolios 4 and 5. Hassan Alhadad is a portfolio manager. As part of his responsibilities, he must perform an annual review for the recommendations made to him regarding portfolios being considered for the coming year. The risk-free rate is 4%. He is currently considering the portfolios whose expected returns, betas and standard deviations are given below: Which portfolios lie below the CML?* Portfolio Expected Return 8% 18% 16% 7% Beta Standard Deviation 1.3 8.8% 2.0 12.4% 1.4 10.1% 0.6 0.9% 1.2 6.5% 1.0 5.0% 13% Market portfolio 10% O Portfolios 2, 3, and 5. Portfolios 1, 2, and 5. Portfolios 1 and 4. All the portfolios lie below the CML. Portfolios 4 and 5