The accompanying table shows a portion of the annual returns (in %) for a mutual fund focusing on investments in Latin America and a mutual fund focusing on investments in Canada from 1994 through 2018. Year Latin America Canada 1994 -23 -12 1995 -17 19 2018 pictureClick here for the Excel Data File a. Which fund had the higher reward over this time period? since it has the b. Which fund was riskier over this time period? since it has the c-1. Given a risk-free rate of 2%, calculate the Sharpe ratio for each fund? What does this ratio imply. (Round intermediate calculations to at least 4 decimal places and final answers to 2 decimal places.) Sharpe ratio for Latin America Sharpe ratio for CanadaYear Latin America Canada 1994 -23.09 -11.56 1995 -16.72 19.41 1996 31.13 16.07 1997 32.91 6.47 1998 -38.08 -15.27 1999 54.5 40.62 2000 -17.1 12.19 2001 -6.48 -9.25 2002 21.2 -4.05 2003 65.56 52.04 2004 40.64 23.72 2005 55.46 28.03 2006 43.9 14.86 2007 43.46 34.95 2008 54.51 -42.92 2009 92 39.29 2010 16.09 21.84 2011 -16.13 -12.61 2012 3.79 8.29 2013 -17.02 10.25 2014 -16.29 3.72 2015 -30.02 -20.49 2016 19.77 20.05 2017 30.95 14.01 2018 -10.57 -13.98