Suppose that the index model for stocks A and B is estimated from excess returns with the following results: R_A = 2.20% + 0.80R_M + e_A R_B = -2.20% + 1.20R_M + e_{B M} = 24%; R-square_A = 0.16; R-square_B = 0.12 Assume you create portfolio P with investment proportions of 0.70 in A and 0.30 in B.

What is the firm-specific variance of your portfolio? (Do not round your intermediate calculations. Round your answer to 4 decimal places.)