Problem 11-03 Consider the following trading and performance data for four different equity mutual funds: Fund w Fund X $298.7 $664.3 Fund Y $1,276.5 Fund z z $5.5569 $38.6 $572.7 $1,455.6 $428.9 Assets under Management, Avg. for Past 12 months (mil) Security Sales, Past 12 months (mil) Expense Ratio Pretax Return, 3-year avg. Tax-adjusted Return, 3-year avg. 0.34% 9.72 9.029 0.74% 10.25% 8.72% 1.11% 10.32% 9.16% 0.20% 9.95% 8.94% a. Calculate the portfolio turnover ratio for each fund. Do not round intermediate calculations. Round your answers to two decimal places Fund W: 90 Fund X: Fund Y: Fund 2: 2 % Which two funds are most likely to be actively managed and which two are most likely passive funds? Select Vare most likely passively managed portfolios: Select 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. . Fund w Fund X: % Fund Y: Fund Z: 2 % d. Which funds were the most and least tax efficient in the operations? Select ) were the most tax efficient and Select were the least tax efficient