Suppose that the borrowing rate that your client faces is $9\%.$ Assume that the equity market index has an expected return of $15\%$ and

standard deviation of $26\%,$ that $r_f=4\%.$

What is the range of risk aversion for which a client will neither borrow nor lend, that is$,$ for which $y=1?($Do not round intermediate

calculations. Round your answers to $2$ decimal places.$)$

$y=1$ for

$A$