3. Consider the following trading and performance data for four different equity mutual funds: Fund W Fund R Fund 1' Fund 2 Assets under Management. $239.4 5653.? 51398.4 55,5613 Avg. for Fast 12 months {mil} Security Salon, 539.2 5559.3 51.4533 $4311 Past 12 months (mil) Expense Ratio {1.33% {1?196 1.13% 0.2198 mm Return. 3-year avg. 9.9399 10.5599 10.:299 9.3399 Taxadjusted Return. 3year avg. 9.43% 8.31% 9.34% 9.54% a. Calculate the portfolio turnover ratio for each fund. h. Which two funds are most likely to be actively managed and which two are most liker passive fluids? Explain. c. Calculate the tax cost ratio for each fund. d. Which funds were the most and least tax efficient