Mr. New Retiree is about to retire after an illustrious career in the Zambian civil service. He is expecting to receive a net of K2.5 million in retirement benefits. As an Investment Advisor, you have been approached by Mr. New Retiree to advise on the options available for him to consider. Required: a) Advise on the main asset classes available in Zambia clearly showing the common investment time horizon for each. [15 Marks] b) Explain the difference between Direct and Indirect investment while clearly highlighting the main players under each approach. [15 Marks] c) Explain why preferred stock is referred to as a hybrid security. [10 Marks