You are required to analyze three portfolios for 2019. The current yield of the government bond is 2%, and market return premium is 3%. The following table is extracted from the market. P_rtfolio A Portfolio B Portfolio C ___ Opening price at the beginning of $1.95 $33.12 $17.55 2019 Closing price at the end of 2019 $2.03 _$18.65 _ Questions: a. If you are new to the market' which portfolio is preferred? Please explain. (5 marks) b. If you would like to add additional portfolio to your existing investment, which portfolio is preferred? Please explain. (5 marks) c. If the market interest rate is expected to be reduced in 2020r what will be the change of annual rate of return for each portfolio in 2020? which portfolio is preferred? Please explain. (5 marks) cl. If the market is just as expected in 2020, what will be the change of annual rate of return for each portfolio in 2020'? Which portfolio is preferred? Please explain