You've collected the following historical information:

Return on risky portfolio: 15% Beta of risky portfolio: 0.9 Standard deviation of returns: 28% Residual standard deviation (tracking error): 40% Treasury bill rate: 2% Return on S&P 500: 4.1% Standard deviation of returns on S&P 500: 22%

Your job is to evaluate the performance of the risky portfolio. What is the information ratio?

A. 0.354 B. 0.278 C. 0.111 D. 0.464