USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM Consider the following information for a portfolio manager:

	Policy	Actual	Index	Actual
	Weight	Weight	Returns	Returns
Stocks	0.65	0.7	0.11	0.12
Bonds	0.3	0.25	0.07	0.08
Cash	0.05	0.05	0.03	0.025

Refer to Exhibit 18.12. Calculate the percentage return that can be attributed to the security selection decision.

a. 0.96 percent

b. 0.94 percent

c. 0.105 percent

d. 0.20 percent

e. 0.925 percent