Suppose that the borrowing rate that your client faces is 9%. Assume that the S&P 500 index has an expected return of 16% and standard deviation of 24%. Also assume that the risk-free rate is re= 3%. Your fund manages a risky portfolio, with the following details: Erp) = 14%, 0 = 15% What is the largest percentage fee that a client who currently is lending ly 1)? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places.)