You have run a regression of stock returns against market returns, using monthly data over the last three years for Golden Books. The regression equation is reproduced below: ReturnsGolden Books = - 1.31% + 0.85 (ReturnsS&P 500) R 2= 20%

QUESTION: Assuming that the average yearly risk-free rate during the period was 5.4%, estimate the Jensens alpha for this stock, in annualized terms.