Suppose that the T$-$bill rate is $4\mathrm{.}0\%$ and an index ETF has an expected return of $15\%$ and a standard deviation of $20\%.$ Assume that Jennifer is planning to invest in the T$-$bills and this ETF. Assume further that she has a quadratic utility with a risk aversion coefficient $($A$)$ of $5.$ Among the following four portfolios, which one will Jennifer choose:

Group of answer choices

$10\%$ in T$-$bills, $90\%$ in the ETF

$70\%$ in T$-$bills, $30\%$ in the ETF

$40\%$ in T$-$bills, $60\%$ in the ETF

$100\%$ in T$-$bills, $0\%$ in the ETF