The CFO of MediSearch ple believes that investing into a project which will develop a new drug for fighting the flu virus, promises a long- term annual return of 10%. The expected return of the market index is RM = 16.1%, the volatility of the market index is OM = 10.7% and the risk-free asset earns R = 3%. 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 0.0110 (in decimal form). What is the beta of the project? Enter your answer rounded to two decimal places. Number Section Attempt 1 of 1 Verify