K You are examining a portfolio consisting of three stocks. Using the data in the table a. Compute the annual returns for a portfolio with 25% invested in North Air, 30% invested in West Air, and 45% invested in Tex Oil. b. What is the lowest annual return for your portfolio in part (a)? How does it compare with the lowest annual return of the individual stocks or portfolios in the table above. a. Compute the annual returns for a portfolio with 25% invested in North Air, 30% invested in West Air, and 45% invested in Tex Oil. The annual return for 2014 will be: (Round to two decimal places.) Year 2014 North Air West Air Tex Oil Portfolio 22% 8% -3% % Data table R (Click on the following icon in order to copy its contents into a spreadsheet) Stock Returns Portfolio Returns Year North Air West Air Tex Oil (R+Rw) (Rw+R) 2014 22% 8% 3% 15.0% 2.5% 2015 31% 22% 6% 26.5% 8.0% 2016 8% 8% 8% 8.0% 8.0% 2017 6% 3% 22% -4.5% 9.5% 2018 -3% 6% 31% -4.5% 12.5% 2019 8% 31% 8% 19.5% 19.5% Average Return 10.0% 10.0% 10.0% 10.0% 10.0% Volatility 14.3% 14.3% 14.3% 12.7% 5.7% Print Done - X