An investment manager's portfolio generated a rate of return of 10.8% over the past year. The portfolio's beta was 1.08 and its return standard deviation was 19.4% per year. The risk-free interest rate was 3.2% per year. What was the portfolio's Sharpe ratio? 1) 0.29 2) 0.43 3) 0.39 4) 0.34 5) 0.26