You want to evaluate three mutual funds using the Sharpe measure for performance evaluation. The risk-free return during the sample period is 4%. The average returns, standard deviations and betas for the three funds are given below, as is the data for the S&P 500 index. Type of Fund Average Return Standard Deviation % % Beta Fund A 20 32 1.6 Fund B 17 30 1.3 Fund C 15 28 1.0 S&P 500 18 30 1.0 Requested: - i) Calculate the Sharpe Ratio for Fund A, Fund B, Fund C and the S&P 500? (4 marks) ii) Which fund is the best fund to invest, why? Explain with an example. (1 mark)