Below are the returns for the past eleven years for common stock for Under Armour (UA) and for the overall stock market, M: Year UA 2010 4.1% 2011 2.0% 2012 11.6% 2013 3.7% 2014 18.5% 2015 24.3% 2016 17.4% 2017 9.2% 2018 29.1% 2019 16.2% 2020 4.6% What is the estimated beta of the UA stock? Note: This is a Web Appendix 8A topic. Hint: You can use either a calculator or Excel to answer this question. +0.52 +0.96 +1.67 Stock Market, M 10.3% 12.2% 14.0% 2.5% 5.2% 11.6% 7.3% 3.0% 12.7% 5.4% 8.1% O +2.12

Below are the returns for the past eleven years for common stock for Under Armour (UA) and for the overall stock market, rM : What is the estimated beta of the UA stock? Note: This is a Web Appendix 8A topic. Hint: You can use either a calculator or Excel to answer this question. +0.52+0.96+1.67+2.12