A financial analyst is currently evaluating several performance metrics for a specific investment portfolio known as the LCM portfolio. This portfolio is characterized by an expected return of 9%, indicating the anticipated percentage gain based on historical or estimated financial data. Additionally, the portfolio features a volatility level, also referred to as standard deviation, of 21%, which measures the degree of variation or risk associated with its returns. The portfolio's systematic risk in relation to the overall market is represented by a beta coefficient of 0.3, indicating lower sensitivity to market movements.

In the context of evaluating the risk-adjusted performance of the LCM portfolio, consider that the risk-free rate, which is the theoretical return on an investment with zero risk, is currently 3%. Utilizing this information, calculate the Treynor ratio for the LCM portfolio. The Treynor ratio is a performance metric that assesses how much excess return is earned per unit of systematic risk, measured as:

$\text{Treynor Ratio} = \frac{\text{Portfolio Return} - \text{Risk-Free Rate}}{\text{Portfolio Beta}}$

Given this formula, determine the Treynor ratio for the LCM portfolio.