You download the last 3 years of daily return data on Apple and use the Fama-French 3-factor model + momentum to evaluate its risk and recent performance. You regress the excess return of apple on the excess market return, the small-minus-big portfolio (SMB), the high-minus-low portfolio (HML), and the momentum portfolio (UMD). Your regression output is as follows:

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	0.000349	0.000361	0.966679	0.333954	-0.00036	0.001058	-0.00036	0.001058
MKT - RF	1.199839	0.043783	27.4041	6.7E-122	1.113914	1.285763	1.113914	1.285763
smb	-0.20862	0.075146	-2.77615	0.00561	-0.35609	-0.06114	-0.35609	-0.06114
hml	-0.59654	0.071889	-8.29805	3.66E-16	-0.73762	-0.45545	-0.73762	-0.45545
umd	-0.00052	0.054404	-0.00959	0.99235	-0.10729	0.106245	-0.10729	0.106245

35. Suppose that on a specific day in the recent past, the returns of the MKT-RF, SMB, HML, and UMD portfolios were 0.5%, 0.4%, 0.5%, and 1%, respectively. Based on this regression output, what is the predicted excess return of apple on that same day?

		2.4%
		0.60%
		0.218%
		0.253%