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 8%. The expected return of the market index is RMRM = 14.9%, the volatility of the market index is MM = 11.1%, and the risk-free asset earns RfRf = 4.1%. 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,MP,M = 0.0066 (in decimal form).

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What is the beta of the project? Enter your answer rounded to two decimal places.