A portfolio manager summarizes the input from the macro and micro forecasters in the following table Micro Forecasts Asset Stock A Stock B Stock C Stock ID Expected Return () Beta 1.3 1.8 0.7 1.0 20 18 17 12 Residual Standard Deviation (%) 58 71 60 Macro Forecasts Standarod Deviation ( % ) Expected Return Asset T-bills Passive equity portfolio 16 23 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 A portfolio manager summarizes the input from the macro and micro forecasters in the following table Micro Forecasts Asset Stock A Stock B Stock C Stock ID Expected Return () Beta 1.3 1.8 0.7 1.0 20 18 17 12 Residual Standard Deviation (%) 58 71 60 Macro Forecasts Standarod Deviation ( % ) Expected Return Asset T-bills Passive equity portfolio 16 23 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