The following data are available relating to the performance of Marie Holdings Stock Fund and the market portfolio:

	Marie Holdings	Market
Average Return	0.11	0.15
Std. Dev. of Returns	0.29	0.30
Beta	0.90	1.00
Tracking Error	0.13	-
Average PE	16.00	15.00

The risk-free rate during the sample period was 0.07.

Calculate the M2 measure of performance for Marie Holdings Fund.

Select one:

a. -0.3077

b. 0.1379

c. -0.0320

d. none of these, or insufficient information

e. 0.0444