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A global equity manager is assigned to select stocks from auniverse of large stocks throughout the world. The manager will beevaluated by comparing her returns to the return on the MSCI WorldMarket Portfolio, but she is free to hold stocks from variouscountries in whatever proportions she finds desirable. Results fora given month are contained in the following table:CountryWeight InMSCI IndexManager’sWeightManager’s Returnin CountryReturn of Stock Indexfor That CountryU.K.0.260.3322%13%Japan0.390.31616U.S.0.340.251012Germany0.010.12613a. Calculate the total value added of all themanager’s decisions this period. (Do not round intermediatecalculations. Round your answer to 2 decimalplaces. Negative amount should be indicated by a minussign.)b. Calculate the value added (or subtracted) byher country allocation decisions. (Do not roundintermediate calculations. Round your answer to 2decimal places. Negative amount should be indicated by a minussign.)c. Calculate the value added from her stockselection ability within countries. (Do not roundintermediate calculations. Round your answer to 2 decimal places.Negative amount should be indicated by a minus sign.)