The current price of Stock PPE is $50. If the market is up next year, the price of PPE is expected to increase to $60 while if the market is down, the price is expected to decrease to $47. The probability of an up market next year is 40% while the probability of a down market is 60%. PPE does not pay any dividend. The current T-bill rate is 1%. What is the Sharpe ratio of PPE?

A) 0.3611

B) 0.5102

C) 0.2669

D) 0.2099