PART II: Open-ended Questions (63 points) Write down steps leading to your answer so you can get partial credits. Only giving a one-number answer is not acceptable, even if that answer is correct. Round your final answer to one decimal place if you use percentage, or three decimal places if you don't use percentage (e.g. 20.51%, or 0.205). 1. (6 points) Below is a graph of the Capital Allocation Line (CAL). E(r) CAL 15% 5% o 20% o Based on the CAL graph, answer the following questions. A) (3 points) What is the Sharpe ratio for the risky portfolio P? B) (3 points) If I invest 50% in T-bill and 50% in the risky portfolio P, what is the expected return on my investment