You are evaluating the performance of two portfolio managers, and you have gathered annual return data for the past decade: Year Mgr X Return (%) Mgr Y Return (%) -5 1 -6 2 1.5 -3.5 3 -1.5 -1.5 4 -1 3.5 5 0 4.5 6 3 6.5 7 6.5 7.5 8 8.5 -2 9 -1 -5 10 17.5 10.5 Write the necessary formulas. a. For each manager, calculate (1) the average annual return (2) the standard deviation of returns and (3) the semi-deviation of returns b. Assuming that the average annual risk-free rate during the 10-year sample period was 2%, calculate the sharpe ratio for each portfolio Calculate the Sorting ratio for each portfolio, using the average risk-free rate as the minimum acceptable return threshold. c