Suppose that the borrowing rate that your client faces is $10\%.$ Assume that the equity market index has an expected return of $16\%$ and

standard deviation of $28\%,$ that $r_f=3\%.$

What is the range of risk aversion for which a client will neither borrow nor lend, that is$,$ for which $y=1?($Do not round intermediate

calculations. Round your answers to $2$ decimal places.$)$

$y=1$ for $,As$