Use the following information relating to the performance of the Monarch Stock Fund and the market portfolio:

	Monarch	Market Portfolio
Average Return	16%	12%
Standard Deviation of Returns	26%	22%
Beta	1.15	1.00
Residual Standard Deviation	1%	0%

The risk free return during the sample period was 4%. Calculate Jensen's measure of performance for Monarch Stock Fund.

Group of answer choices

1.00%

2.80%

44.00%

50.00%

none of the above