$5.$ The following data are available relating to the performance of Monarch Stock Fund and the market portfolio:

Average Return

Standard Deviation of Returns

Beta

Residual Standard Deviation

Monarch

$16\%$

$26\%$

$1\mathrm{.}15$

$1\%$

Market Portfolio

$12\%$

$22\%$

$1\mathrm{.}00$

$0\%$

The risk$-$free return during the sample period was $4\%.$ What is the information ratio measure of performance evaluation for Monarch Stock Fund?