ii. i. c) Abuelita Madrigal is 65 years old and holds a $1 million portfolio. She would like to withdraw $50,000 a year for living expenses and believes she should plan for a retirement lasting 20 years. She also wishes to pass along to her three children the portfolio's current value when she dies: the median value of her bequest should be worth no less than the $1 million current value. Statistically, the median is the most likely outcome. Based on agreed upon capital market expectations, the resulting optimized portfolio results in a 60/40 mix of equities and fixed income, respectively. Madrigal's investment advisor presents Monte Carlo results in real terms of her asset portfolio over time. Wealth $10,000,000 $1.000.000 $100.000- 90% 75% 50% 25% 10% $2.035.656 $1.476.773 $928,095 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 Age $430.746 Is the asset allocation expected to satisfy Madrigal's investment objective? Briefly explain why or why not. Assume the asset allocation will not meet her objectives. List two ways in which Madrigal may increase the probability of meeting her objectives.