You are currently considering an investment in a project in the energy sector. The investment has the same riskiness as Exxon Mobil stock (ticker: XOM). Using the data in Table 13.1 B and the table , calculate the cost of capital using the FFC factor specification if the current risk-free rate is 3.0% per year. The cost of capital using the FFC factor specification is %. (Round to two decimal places.) FFC Portfolio Average Monthly Returns, 1927-2018 Factor Portfolio Average Monthly Return (%) 95% Confidence Band (%) MKT - - rf 0.66 +0.32 SMB 0.22 + 0.19 HML 0.38 + 0.21 PR1YR 0.66 +0.28 Estimated Factor Betas, 2007-2017 MSFT XOM Factor GE MKT 1.10 0.66 1.22 SMB -0.71 -0.38 -0.29 -0.01 0.17 0.78 HML PR1YR 0.02 0.21 -0.22