Justin Thomas ran a regression of Tesla monthly excess stock returns (in %) on the market excess returns (also in %). Part of the single-factor regression output is shown below.

Regression Statistics
Multiple R	0.294544
R Square	0.086756
Adjusted R Square	0.07371
Standard Error	15.28772
Observations	72

How much of the variation in Tesla monthly excess returns is explained by the variation in the market excess returns?

		0.294544
		0.086756
		0.07371
		72