You manage a risky portfolio with an expected return of 12% and a standard deviation of 24%. Assume that you can invest and borrow at a risk-free rate of 3%, using T-bills. a) Draw the Capital Allocation Line (CAL) for this combination of risky portfolio and risk-free asset. What is the Sharpe ratio of the risky portfolio? b) Your client chooses to invest 50% of their funds into your risky portfolio and 50% risk-free. What is the expected return and standard deviation of the rate of return on their portfolio