Suppose that the borrowing rate that your client faces is 9%. Assume that the equity market index has an expected return of 16% and standard deviation of 24%, that r_f = 3%. Your fund manages a risky portfolio, with the following details: E(r_p) = 14%, _p = 15%.

What is the largest percentage fee that a client currently lending (y < 1) will be willing to pay to invest in your fund? What about a client who is borrowing (y > 1)? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places.)

y < 1	%
y > 1	%