Estimate the beta of the following stock: market risk premium = 24.7 percent, RF = 5.7 percent, P₀= $9.7, expected dividend at the end of the year = $2.20, P₁= $12.20. Assume the market is in equilibrium.(Round intermediate calculations and the final answer to 2 decimal places, e.g. 21.36 or 21.36%.)