Consider the two (excess return) index model regression results for A and B:

R_A = 1.7% + 1.6R_M

R-square = 0.646

Residual standard deviation = 12.8%

R_B = 1.5% + 1.3R_M

R-square = 0.592

Residual standard deviation = 11.6%

d. If r_f were constant at 6.2% 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.)

Intercept__________%