In a hypothetical world of 4 assets with the following information below. Assume no restrictions on short sales.

Variance-covariance matrix	Asset 1	Asset 2	Asset 3	Asset 4		Expected returns
Asset 1	0.10					0.06
Asset 2	0.02	0.20				0.07
Asset 3	0.04	0.04	0.40			0.08
Asset 4	0.05	0.01	0.10	0.60		0.09

Required: [Instruction: Show your workings and round your final answers to three decimal places e.g., 0.001 or 0.1% in all three parts; provide a screenshot of your key step in solving portfolio weights using Excel for part a.]

1. Find the portfolio weights for the minimum risk premium portfolio using the four assets.
2. Identify five new efficient portfolios and use a table to report their portfolio weights, portfolio returns, and standard deviations. Draw an efficient frontier diagram on the plane of return-standard deviation, using the six efficient portfolios identified.
3. Suppose a portfolio is composed of equal weights of each asset (i.e., [0.25, 0.25, 0.25, 0.25]). Is the portfolio efficient? Support your answer with the results of your calculations.