A portfolio manager summarizes the input from the macro and micro forecasters in the following table Micro Forecasts Residual Standard Expected Return(%) Asset Stock A Stock B Stock C Stock D Beta 0.8 1.2 0.6 Deviation (%) 25 52 16 12 47 Macro Forecasts Asset T-bills Passive equity portfolio Expected Return (%) standard Deviation 8 18 26 Calculate the following for a portfolio manager who is not allowed to short sell securities a. 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 your answers to 2 decimal places.) 3.0) given his new complete portfolio? (Do not round intermediate calculations. Round Utility Levels Cases Unconstrained Constrained Passive