Problem $6-5($Algo$)$

Consider a portfolio that offers an expected rate of return of $7\%$ and a standard deviation of $25\%.$ T$-$bills offer a risk$-$free $2\%$ rate of return.

What is the maximum level of risk aversion for which the risky portfolio is still preferred to T$-$bills?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Answer is complete but not entirely correct.

$\backslash$table$[[$Maximum level of risk aversion must be$,$less than,$(2),3\mathrm{.}08$