Question 14 5 pts You estimate that a passive portfolio, for example, one invested in a risky portfolio that mimics the S&P 500 stock index, offers an expected rate of return of 13% with a standard deviation of 26%. You manage an active portfolio with expected return 19% and standard deviation 33%. The risk- free rate is 7%. Your client's degree of risk aversion is A = 2.3. If he chose to invest in the passive portfolio, what proportion, y, would he select? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Next