The average excess return on a portfolio is 17.8% and the average excess return on the market is 13.7%. The covariance between returns on the portfolio and returns on the market is 0.017637 and the variance of returns on the market is 0.021316. What is the portfolio's Jensen's alpha?

Select one:

a. 6.05%

b. 5.40%

c. 6.46%

d. 5.12%