You have $$360,000$ invested in a well$-$diversified portfolio. You inherit a house that is presently worth $$220,000.$ Consider the

summary measures in the following table:

The correlation coefficient between your portfolio and the house is $0\mathrm{.}43.$

a$.$ What is the expected return and the standard deviation for your portfolio comprising your old portfolio and the house? $($Do not

round intermediate calculations. Round your final answers to $2$ decimal places.$)$

b$.$ Suppose you decide to sell the house and use the proceeds of $$220,000$ to buy risk$-$free T$-$bills that promise a $8\%$ rate of return.

Calculate the expected return and the standard deviation for the resulting portfolio. $[$Hint$.$ Note that the correlation coefficient between

any asset and the risk$-$free T$-$bills is zero.$]($Do not round intermediate calculations. Round your final answers to $2$ decimal places.$)$