The total excess return on the Highwater Marx Bros.'s managed portfolio was _________.

Name: The total excess return on the Highwater Marx Bros.'s managed portfolio was _________.
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The total excess return can be calculated by subtracting the portfolio's benchmark return from the portfolio's actual return. From the table given, the portfolio return is 6.75%, and the benchmark return is 7.75%. Therefore, the excess return is -1.00%, option B.

The Total Excess Return on the Highwater Marx Bros