The beta of PFE stock has been estimated as 1.4 using regression analysis on a sample of historical returns for the S&P 500. What is the interpretation of this equity beta? (5 points) 3. a. As the S&P 500 increases by 1%, PFE increases by 0.4%. b. As the S&P 500 increases by 1%, PFE decreases by 0.4%. C. As the S&P 500 increases by 1%, PFE decreases by 1.4%. d. As the S&P 500 increases by 1.4%, PFE increases by 1%. e. As the S&P 500 increases by 1%, PFE increases by 1.4%