Problem 9-20 Two investment advisers are comparing performance. One averaged a 19% rate of return and the other a 16.5% rate of return. However, the beta of the first investor was 1.3, whereas that of the second investor was 1. a. Can you tell which investor was a better selector of individual stocks (aside from the issue of general movements in the market)? O Second investor O Cannot determine O First investor b. If the T-bill rate was 6% and the market return during the period was 10%, which investor would be considered the superior stock selector? O Cannot determine O First investor O Second investor c. What if the T-bill rate was 3% and the market return was 16%? O Second investor O First investor O Cannot determine