29a) Stock Zs excess returns and the broad stock-markets excess returns have a correlation of 36%. Stock Z has an annualized variance of 3%. The broad stock-market has an annualized volatility of 22%. One-year US Treasury zero-coupon bonds, with a face value of $1000, are currently trading at $955. The broad stock-market has an expected return of 10.3% per year. Determine the annualized expected return of Stock Z. Provide an answer as a percentage, not as a decimal, using at least 4 digits of precision.

29b) In an attempt to estimate the beta of Stock X, you recently ran a market model regression (in Excel). Excel reported a host of output variables such as alpha, beta and R-squared. The estimate of beta was 1.29. You also determined that the annualized volatility of the broad stock-market was 18.4%, and the annualized volatility of Stock X was 60.9%.

Determine the value of R-squared that was reported by Excel.

Provide an answer as a percentage, not as a decimal, using at least 4 digits of precision.