Imagine you are a provider of portfolio insurance You are establishing a four-year program. The portfolio you manage is curtently worth $100 million, and you promise to provide a minimum return of 0%. The equity portfolio has a standard deviation of 25% per year. and T-bils pay 5% per year. Assume for simplieity that the portfolio pays no dividends (or that all dividends are reinvested). a-1. What percentage of the portfolio should be placed in bilis? (Input the value as a positive value. Round your answer to 2 decimal places.) Portfollo in bills a-2. What percentage of the portfolio should be placed in equity? (input the value as a positive value. Round your answer to 2 decimal places.) Portfolio in equity b-1. Calculate the put delta and the amount held in bills if the stock portfolio falls by 3% on the first day or trading, before the hedige is in place? (input the value as a positive value. Do not round intermediote calculations. Round your answers to 2 decimal places.) b-2. What action should the manager take? (Enter your answer in millions rounded to 2 decimal ploces.) The manager must million of and use the proceeds to