A portfolio manager wants to analyze and assess the performance of four of the firm's fund managers (see Portfolios A through D below). data Each manager invests solely in U.S. stocks and the S&P 500 serves as best indication of the overall market performance. If the return on Treasury Bills was 8.0%, calculate the Jensen's Alpha Ratio for Portfolio C.

Portfolio Return Std Dev Beta

a 17% 20% 1.1

b 24% 18% 2.1

c 11% 10% .5

d 16% 14% 1.50

SP 500 14% 12% 1.00