If the daily, 95% confidence level value at risk (VaR) of a portfolio is correctly estimated to be $10,000, one would expect that: a. In 1 out of 20 days, the portfolio value will decline by $10,000 or less. b. In 1 out of 95 days, the portfolio value will decline by $10,000 or less. c. In 1 out of 95 days, the portfolio value will decline by $10,000 or more. d. In 1 out of 20 days, the portfolio value will decline by $10,000 or more.