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Consider the following bootstrapped 3-year performance of an actively managed investor's portfolio and a relevant benchmark: Investor's Portfolio Benchmark Portfolio Iteration # Portfolio Portfolio Portfolio Value Portfolio Value Pt=3 Compound Bt=3 Compound (Pt=0=1) Return p.a. (p1/3.1) (Bt=0=1) Return p.a. (B1/3-1) 1 1.32 9.7% 1.20 6.3% 2 0.90 -3.5% 0.95 -1.7% 3 0.95 -1.7% 0.83 -6.0% 4 1.29 8.9% 1.10 3.2% 5 1.34 10,2% 1.04 1.3% What is the compounded outperformance of investor's portfolio relative to the benchmark over 3 years in the fifth iteration (rounded to one decimal place)? Select one: a. 8.8% b. 8.9% O c. O d. e. 28.8% 30.0% None of the above