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Please show work. Consider the following average annual returns: Investment Average Return Small Stocks 23.50% S&P 500 13.10% Corporate Bonds 7.30% Treasury Bonds 6.10% Treasury

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Consider the following average annual returns:
Investment Average Return
Small Stocks 23.50%
S&P 500 13.10%
Corporate Bonds 7.30%
Treasury Bonds 6.10%
Treasury Bills 4.00%
What is the excess return for each of the portfolios of small stocks S&P 500 stock, Corporate bonds, treasury bonds and treasury notes?

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