P 12-25 (similar to) Question Help The risk-free rate is 4.7% and you believe that the S&P 500's excess return will be 10.6% over the next year. If you invest in a stock with a beta of 1 (and a standard deviation of 30%), what is your best guess as to its expected excess return over the next year? The expected excess return over the next year is %. (Round to two decimal places.)