Suppose the market portfolio's excess return tends to increase by $18\%$ when the economy is strong and decline by $22\%$ when the economy is weak. A type W firm has excess returns increase by $21\%$ when the economy is strong and decrease by $27\%$ when the economy is weak. What is the beta for a type S firm?

Question $4$ options:

$1\mathrm{.}50$

$1\mathrm{.}20$

$-1\mathrm{.}50$

$-1\mathrm{.}44$