21. Pickles Dillhoefer owns a portfolio that over the last five years has produced a 16.8% annual return. During that time the portfolio produced a 1.10 beta. Further, the riskfree return and market return averaged 7.4% and 15.2% per year, respectively. What was the ex post alpha on Pickles's portfolio over this time period?

Draw the ex postSML and the position of Pickles's portfolio.