A portfolio manager summarizes the input from the macro and micro forecasters in the following table Asset Stock Stock 8 Stock Stock Micro Forecasts Expected Return () Beta 22 1.4 21 1.8 19 16 1.1 Hesidual Standard Deviation () 53 61 58 46 0. Macro Forecast Expected Return () Standard Deviation (N) Asset Tbilis Passive equity portfolio 16 20 ces Calculate the following for a portfolio manager who is not allowed to short sell securities. The manager's Sharpe ratio is 0.4647 o. What is the cost of the restriction in terms of Sharpe's measure? (Do not round Intermediate calculations. Enter your answer as decimals rounded to 4 places..) Cost of restriction b. What is the utility loss to the investor (A = 19 given his new complete portfolio? (Do not round Intermediate calculations. Round your answers to 2 decimal places.) Utility Levels Cases Unconstrained Constrained Passive 96 A portfolio manager summarizes the input from the macro and micro forecasters in the following table Asset Stock Stock 8 Stock Stock Micro Forecasts Expected Return () Beta 22 1.4 21 1.8 19 16 1.1 Hesidual Standard Deviation () 53 61 58 46 0. Macro Forecast Expected Return () Standard Deviation (N) Asset Tbilis Passive equity portfolio 16 20 ces Calculate the following for a portfolio manager who is not allowed to short sell securities. The manager's Sharpe ratio is 0.4647 o. What is the cost of the restriction in terms of Sharpe's measure? (Do not round Intermediate calculations. Enter your answer as decimals rounded to 4 places..) Cost of restriction b. What is the utility loss to the investor (A = 19 given his new complete portfolio? (Do not round Intermediate calculations. Round your answers to 2 decimal places.) Utility Levels Cases Unconstrained Constrained Passive 96