You are operating a mutual fund. You wish to convince a client that they are wisely investing in your mutual fund over an index fund. You calculate that a market index fund that mimics the S&P 500 has an expected rate of return of 13 percent with a standard deviation of 25 percent. Your fund on the other hand is yielding a 20 percent return and a standard deviation of 31 percent. The risk free rate is currently at 8 percent. (a) On a Mean-standard deviation graph, draw the capital allocation line (CAL) for your portfolio and the market portfolio (b) What is the slope of the CAL for the market portfolio? What is the slope for your fund's CAL? What does this imply about your fund over the market?