You a manager of an equity fund with an expected risk premium of 7% and standard deviation of 20%. The rate on Treasury bills is 5%. Your client wants to invest $40,000 of their portfolio in your equity fund and $60,000 in a T-bill money market fund.

Draw the Capital Allocation Line (CAL) of your portfolio on an expected-return standard deviation diagram and show the position of your client on your funds CAL.