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The solution needs to be manually ,not through an excel spreadsheet Florida Company (FC) and Minnesota Company (MC) are both service companies. Their stock returns

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Florida Company (FC) and Minnesota Company (MC) are both service companies. Their stock returns for the past three years were as follows: FC: -5 percent, 15 percent, 20 percent; MC: 8 percent,8 percent, 20 percent. What is the variance of a portfolio with 50 percent of the funds invested in FC and 50 percent in MC? (Ignore the correction for the loss of a degree of freedom set out in the text.) A) 85.75 B) 111.30 C) 55.75 D) $7.17

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