Beta of a project. Magellan is adding a project to the company portfolio and

has the following information: the expected market return is $12\mathrm{.}7\%,$

the risk$-$free rate is $2\mathrm{.}4\%,$ and the expected return on the new project is

$16\mathrm{.}5\%.$ What is the project's beta?

What is the project's beta?

$($Round to three decimal places.$)$