13.

Phoenix Solar is expected to pay a dividend of $3.60 in the upcoming year, and their stock is trading in the market today at $60 per share. Dividends are expected to grow at the rate of 7.6% per year. If the risk free rate of return is 4% and the expected return on the market portfolio is 12%, what is the stock's beta? Your answer should be between 0.34 and 2.12 , rounded to 2 decimal places, with no special characters