Consider the two (excess return) index model regression results for A and B: RA = 1.8% + 2RM R-square = 0.640 Residual standard deviation = 12.6% RB = 1.4% + 1RM R-square = 0.590 Residual standard deviation = 11.4%

If rf were constant at 6% and the regression had been run using total rather than excess returns, what would have been the regression intercept for stock A? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.)