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, 30% invested in West Air, and 50% 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, 30% invested in West Air, and 50% invested in Tex Oil. The annual return for 2014 will be: (Round to two decimal places.) Year 2014 North Air 20% West Air 8% The annual return for 2015 will be: (Round to two decimal places.) Tex Oil -4% West Air Year North Air 2019 8% Tex Oil Year North Air 2015 31% The annual return for 2016 will be: (Round to two decimal places.) Tex Oil Year North Air West Air 2016 7% 7% The annual return for 2017 will be: (Round to two decimal places.) Year North Air 2017 Tex Oil 20% -4% The annual return for 2018 will be: (Round to two decimal places.) West Air -4% 20% West Air -3% -3% 8% Portfolio Tex Oil 31% Year 2018 North Air -3% The annual return for 2019 will be: (Round to two decimal places.) Tex Oil West Air 31% 7% Portfolio Portfolio Portfolio Portfolio Portfolio % % % % % % Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Stock Returns Year 2014 2015 2016 2017 2018 2019 Average Return Volatility North Air 20% 31% 7% - 4% - 3% 8% 9.8% 13.6% West Air 8% 20% 7% - 3% - 4% Print 31% 9.8% 13.6% Tex Oil C - 3% - 4% 8% 20% 31% 7% 9.8% 13.6% Done Portfolio Returns 1 1 // (RN+RW) // (Rw+R) z 14.0% 25.5% 7.0% -3.5% -3.5% 19.5% 9.8% 12.0% 2.5% 8.0% 7.5% 8.5% 13.5% 19.0% 9.8% 5.7% - X 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.) A. The portfolio computed in part (a) had its lowest annual return in 2014 (4.90%). B. The portfolio computed in part (a) had its lowest annual return in 2015 (10.20%). 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