An active portfolio manager outperformed the benchmark last year by 2.77 %, where the benchmark is the S&P500 index. In analyzing the portfolio for return attribution using the Carhart 4 factor model, you find the following results:

Factor	Portfolio Sensitivity	Benchmark sensitivity	Factor return (%)
RMRF	0.96	1.05	5.55
SMB	-0.96	-1.05	2.13
HML	0.31	-0.09	5.8
WML	0.38	0.09	5.06

What was the return to the portfolio resulting from the security selection component?

The answer should be -0.71.

PLEASE SHOW ALL CALCULATIONS IN EXCEL.