The CFO of MediSearch plc believes that investing into a project which will develop a new drug for fighting the flu virus, promises a long-term annual return of 12%. The expected return of the market index is RM=11.3%, the volatility of the market index is M=11.1%, and the risk-free asset earns Rf= 5.1%. The CFO has studied similar projects of other companies and believes that the covariance between the returns of this project and the returns of the market is P,M=0.0106 (in decimal form). This question has 3 parts (i.e., you will be clicking "Verify" 3 times). What is the beta of the project? Enter your answer rounded to two decimal places