Suppose that an investment portfolio loses 50% of its value in one years time (a negative 50% return) and then gains 50% of its value over the next year (a positive 50% return). Further, suppose that this occurs for four consecutive cycles (eight years total). a. What is the arithmetic average annual return on the portfolio? 0% b. What is the average time-weighted (geometric) annual return of the portfolio? -13.40