Exhibit 25 -Refer to Exhibit 25

Exhibit 25.3
Use the Information Below for the Following Problem(S)
Consider the data presented below on three mutual funds and the market.
$$\begin{array} { l l c c c } \text { Fund } & \text { Beta } & \text { Devintion (\%) } & \text { Return (\%) } & \text { R } _ { ( } ( \% ) \\\hline \text { AAA } & 0.75 & 7.0 & 14 & 3 \\\text { BBB } & 1.05 & 5.0 & 18 & 3 \\\text { CCC } & 0.89 & 8.0 & 20 & 3 \\\text { Market } & 1.00 & 8.0 & 12 & 3\end{array}$$
-Refer to Exhibit 25.3.Compute the Treynor Measure for the CCC fund.

A) 14.7
B) 15.3
C) 19.1
D) 17.0
E) 12.7