[7] Consider historical data showing that the average annual rate of return on the S&P 500 portfolio over the past 85 years has averaged roughly 8% more than the Treasury bill return and that the S&P 500 standard deviation has been about 38% per year. Assume these values are representative of investors' expectations for future performance and that the current T-bill rate is 2%. WBills WSP500 U (A=3.5) 0.0 1.0 0.2 0.8 0.4 0.6 0.6 0.4 0.8 0.2 1.0 0.0 N a. Calculate the utility levels of each portfolio for an investor with A = 2. (Do not round intermediate calculations. Round your answers to 4 decimal places. Negative amounts should be indicated by a minus sign. ) b. Which portfolio provides the maximum Utility for this investor and why