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A portfolio manager summarizes the input from the macro and micro forecasters in the following table: Micro forecasts ASSE Stock stock B Stock C Stock 0 Expected Return (5) 25 19 16 13 Beta 1.2 1.6 0.5 1.6 Residus Standard Deviation (%) 56 20 61 Macro Forecasts Expected Return (3) Standard Deviation (%) Tobills Passive equity portfolio 15 21 Calculate the following for a portfolio Manager who is not allowed to short sell securities. The manager's Sharpe ratio is 0.4194 .. What is the cost of the restriction in terms of Sharpe's measure? (Do not round Intermediate calculations. Enter your answer as decimals rounded to 4 places.) b. What is the utility tos to the investor = 27 given his new complete portfolio? Do not round Intermediate calculations. Round your answers to 2 decimal places.) Utility Levels Unconstrained Constrained A portfolio manager summarizes the input from the macro and micro forecasters in the following table: Micro forecasts ASSE Stock stock B Stock C Stock 0 Expected Return (5) 25 19 16 13 Beta 1.2 1.6 0.5 1.6 Residus Standard Deviation (%) 56 20 61 Macro Forecasts Expected Return (3) Standard Deviation (%) Tobills Passive equity portfolio 15 21 Calculate the following for a portfolio Manager who is not allowed to short sell securities. The manager's Sharpe ratio is 0.4194 .. What is the cost of the restriction in terms of Sharpe's measure? (Do not round Intermediate calculations. Enter your answer as decimals rounded to 4 places.) b. What is the utility tos to the investor = 27 given his new complete portfolio? Do not round Intermediate calculations. Round your answers to 2 decimal places.) Utility Levels Unconstrained Constrained