You are examining a portfolio consisting of three stocks. Using the data in the table a. Compute the annual returns for a portfolio with 20% invested in North Air, 25% invested in West Air, and 55% invested in Tex Oil. b. What is the lowest annual return for your portfolio in part (a)? How does it compare with the lowest annual return of the individual stocks or portfolios in the table above. a. Compute the annual returns for a portfolio with 20% invested in North Air, 25% invested in West Air, and 55% invested in Tex Oil. The annual return for 2014 will be: (Round to two decimal places.) Year 2014 North Air 21% West Air 10% Tex Oil -1% The annual return for 2015 will be: (Round to two decimal places.) Year North Air 2015 West Air 21% 30% The annual return for 2016 will be: (Round to two decimal places.) West Air Year North Air 2016 7% Tex Oil Portfolio 10% The annual return for 2017 will be: (Round to two decimal places.) Year North Air 2017 7% North Air West Air 10% -6% The annual return for 2018 will be: (Round to two decimal places.) -1% Year North Air 2018 -1% Tex Oil Portfolio 30% The annual return for 2019 will be: (Round to two decimal places.) West Air Portfolio Tex Oil Portfolio -6% -6% Tex Oil Portfolio 21% Tex Oil Portfolio % % % % % Data table % (Click on the following icon in order to copy its contents into a spreadsheet.) Stock Returns North Air West Air 21% 10% 30% 21% 7% 7% Imm - 6% - 1% - 1% - 6% 10% 30% 10.2% 13.5% Year 2014 2015 2016 2017 2018 2019 Average Return Volatility Print A. The portfolio computed in part (a) had its lowest annual return in 2014 (6.15%). B. The portfolio computed in part (a) had its lowest annual return in 2015 (7.95%). C. This is higher than the lowest annual return of each individual stock and the other portfolios in the table above as well. D. This is lower than each individual stock and the other portfolios in the table above as well. 10.2% 13.5% Tex Oil - 1% - 6% 10% 21% 30% 7% 10.2% 13.5% Done 1 Year 2019 West Air 30% 7% b. What is the lowest annual return for your portfolio in part (a)? How does it compare with the lowest annual return of the individual stocks or portfolios in the table above. (Select all the choices that apply.) Portfolio Returns 1 (RN+RW) = (RW+RT) 15.5% 25.5% 7.0% - 3.5% - 3.5% 20.0% 10.2% 12.2% 4.5% 7.5% 8.5% 10.0% 12.0% 18.5% 10.2% 4.8% X