correct answer

The average excess return on a portfolio is 17.2% and the average excess return on the market is 12.4%. The risk-free rate is 3.8%. The covariance between returns on the portfolio and returns on the market is 0.01281 and the variance of returns on the portfolio is 0.030625. What is the portfolio's Sharpe ratio? Select one: a. 0.77 b. 1.22 C. 0.53 d. 0.98