A financial analyst is evaluating the performance of a Mexican equities portfolio relative to the IPC Index. To determine the risk-adjusted return of the portfolio, the following data has been collected:

• Portfolio's expected return: 8.7%
• Portfolio's return volatility: 12.0%
• IPC Index's expected return: 4.0%
• IPC Index's return volatility: 8.7%
• Risk-free rate: 2.0%
• Portfolio's beta in relation to the IPC Index: 1.4%

Calculate the Sharpe ratio for this portfolio.