Suppose that the borrowing rate that your client faces is 9%. Assume that the equity market index has an expected return of 13% and standard deviation of 31%, that r_f = 4%. 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.)

Group of answer choices

y = 1 for 0.42 A 0.94

y = 1 for 0.06 A 0.42

y = 1 for 2.54 A 4.22

y = 1 for 0.34 A 0.65