1. On 1 January 2009, the value of an investor's portfolio is $89,000. The investor plans to donate $4,000 to charity organization and pay $2,000 to his insurance account on 31 December of 2009, but meanwhile he does not want the year-end portfolio value to be below $89,000. If the expected return on the existing portfolio is 12 percent with a variance of 0.0125, the safety-first ratio that would be used to evaluate the portfolio based on Roy's criterion is closest to: