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this is a question about short sale. please answer with detail, thanks! James' utility function is given by E (rc) - Oct. He has $50K

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this is a question about short sale. please answer with detail, thanks!

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James' utility function is given by E (rc) - Oct. He has $50K to invest and the optimal risky portfolio has a standard deviation of 14% and the sharpe ratio is 0.35. Assume James can borrow and lend. The optimal choice to maximise his utility require him to: a) Lend $25K b) Lend $12.5K c) Borrow $12.5K d) Borrow $25K e) Borrow $75L

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