From the pies: Govt.\ Bonds \& Sec.\ \(=48.3\%\) of total; within it, Municipal \(=56\%\).
Within Municipal (third pie): \(65\%\) at \(7\%-9\%\) yield; the rest \(35\%\) is over \(9\%\).
Shares of the total portfolio:
\[
\begin{aligned}
\text{Municipal at }7\%-9\% &: 48.3\%\times 56\%\times 65\% \approx 17.58\%\,,
\text{Municipal over }9\% &: 48.3\%\times 56\%\times 35\% \approx 9.47\%\,,
\text{State-issued Bonds} &: 48.3\%\times 26\% \approx 12.56\%\,,
\text{High Risk Stocks} &: 8.9\%\,.
\end{aligned}
\]
The largest share is the \(Municipal Bonds at 7\%-9\%\) bucket (about \(17.6\%\)).
\[
\boxed{\text{Option (a)}}
\]