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 15%. The expected return of the market index is RM = 14.8%, the volatility of the market index is OM = 9.7%, and the risk-free asset eams Ry = 2.7%. 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 OPM = 0.0099 (in decimal form). Number What is the beta of the project? Enter your answer rounded to two decimal places. Section Attempt 1 of 1 Verify