Consider the following trading and performance data for four different equity mutual funds:

a$.$ Calculate the portfolio tumover ratio for each fund. Do not round intermediate calculations. Round your answers to two decimal places.

b$.$ Which two funds are most likely to be actively managed and which two are most likely passive funds?

are most likely passively managed portolios:

$|$ are most likely to be actively managed.

c$.$ Calculate the tax cost ratio for each fund. Do not round intermediate calculations. Round your answers to two decimal places.

d$.$ Which funds were the most and least tax efficient in the operations?

were the most tax efficient and

were the least tax efficient.