The change in the value of a portfolio in three months is normally distributed with a mean of $500,000 and a standard deviation of $3 million. Calculate the VaR and Es for a confidence level of 99.5% and a time horizon of three months. Select one: a. The 99.5% VaR is $7,727m and the ES is $9.167m b. The 99.5% VaR is $7,727m and the ES is $9.176m c. The 99.5% VaR is $7,227m and the ES is $9.176m d. The 99.5% VaR is $7,227m and the ES is $9.167m