Your customer asks you to estimatethe systematic risk of Microsoft securities. You have collected the data, such as monthly stock prices, risk-free rate, market returns. Using the data, calculate the systematic risk of the security (Please download the stock data file (online_exercise_1.xlsx) to solve this question. Round to the nearest thousandth. e.g., 0.16666 must be expressed as 0.167).

year month Risk-Free Rate Market Return Trading Volume Number of Shares Outstanding Price ($) 2006 12 0.0042475 0.01294977 13176580 413399 39.46 2007 1 0.004225833 0.01939655 13390496 414000 37.67 2007 2 0.0042475 -0.01398767 13007733 414679 39.14 2007 3 0.004165833 0.01294977 12832900 409000 39.79 2007 4 0.004064167 0.03981525 9676052 409698 61.33 2007 5 0.003909167 0.03893219 13176580 409698 69.14 2007 6 0.003969167 -0.01476538 11884314 413000 68.41 2007 7 0.004085 -0.03176044 13008446 413399 78.54 2007 8 0.003430833 0.01163043 12397224 413399 79.91 2007 9 0.003149167 0.04084195 11168623 415000 93.15 2007 10 0.003243333 0.0257964 17744802 415177 89.15 2007 11 0.0026125 -0.04932737 18330717 415177 90.56 2007 12 0.002688333 -0.00442325 10700171 416000 92.64 2008 1 0.001609167 -0.06213814 19530535 416000 77.7 2008 2 0.001524167 -0.02166337 23258303 417212 64.47 2008 3 0.001091667 -0.01042054 14572915 417000 71.3 2008 4 0.001150833 0.05106048 14480582 417680 78.63 2008 5 0.001566667 0.02380778 14084270 417680 81.62 2008 6 0.001439167 -0.0784257 15648014 426000 73.33 2008 7 0.001388333 -0.01334129 16420967 425921 76.34 2008 8 0.001430833 0.01056561 12083088 425921 80.81 2008 9 0.000558333 -0.0979804 19299651 429000 72.76 2008 10 0.000363333 -0.1846477 30441987 428832 57.24 2008 11 0.000025 -0.08461469 17985595 428832 42.7 2008 12 0.000093333 0.02215415 15442392 428000 51.28 2009 1 0.000200833 -0.0773147 15618965 428583 58.82 2009 2 0.000211667 -0.1002706 14630937 429120 64.79 2009 3 0.000169167 0.08674762 16364071 429000 73.44 2009 4 0.000105833 0.1093522 15703150 429648 80.52 2009 5 0.00011 0.06777447 11077166 429648 77.99 2009 6 0.000154167 -0.00309918 14184830 432000 83.66 2009 7 0.0001475 0.08175195 15253854 431807 85.76 2009 8 0.000114167 0.03146854 10003985 431807 81.19 2009 9 0.000093333 0.04521635 10433262 433000 93.36 2009 10 0.000038333 -0.02797095 15277741 432983 118.81 2009 11 0.0000425 0.05711698 10236442 432983 135.91 2009 12 0.000046667 0.02843039 9238424 444000 134.52 2010 1 0.000063333 -0.03709752 13640561 444546 125.41 2010 2 0.0000975 0.03478614 10779015 445226 118.4 2010 3 0.000126667 0.06362587 11181446 446000 135.77 2010 4 0.000130833 0.02006334 13259805 445672 137.10001 2010 5 0.000130833 -0.07916308 17259734 445672 125.46 2010 6 0.000143333 -0.05074472 16793127 448000 109.26 2010 7 0.000118333 0.0703086 14132280 447825 117.89 2010 8 0.0000975 -0.04284408 12827745 447825 124.83 2010 9 0.000130833 0.09154682 12779695 449000 157.06 2010 10 0.0000975 0.03851225 12854487 448837 165.23 2010 11 0.000139167 0.00512454 14174423 448837 175.39999 2010 12 0.000101667 0.06720509 10367260 451000 180 2011 1 0.000118333 0.01913699 13658100 451004 169.64 2011 2 0.000114167 0.03817537 11176358 451616 173.28999 2011 3 0.000078333 0.00335316 13148095 452000 180.13 2011 4 0.000034167 0.02866654 13175516 452043 195.81 2011 5 0.0000425 -0.01489987 13677186 452043 196.69 2011 6 0.0000125 -0.01838777 13005667 454000 204.49001 2011 7 0.000078333 -0.02252415 12628983 453935 222.52 2011 8 0.000008333 -0.05749821 17248617 453935 215.23 2011 9 0.000016667 -0.08486251 12834491 455000 216.23 2011 10 0.0000025 0.1140301 12223185 454754 213.50999 2011 11 0 -0.0062072 10497537 454754 192.28999 2011 12 0.000008333 0.00369629 10098074 455000 173.10001 2012 1 0.000046667 0.05409463 13601072 455068 194.44 2012 2 0.000063333 0.0412389 9870347 451592 179.69 2012 3 0.000059167 0.02400399 9445449 450000 202.50999 2012 4 0.000075833 -0.00680648 9337134 450526 231.89999 2012 5 0.000055 -0.06557433 10123951 450526 212.91 2012 6 0.00007 0.03818888 9679085 452000 228.35001 2012 7 0.0000825 0.01028388 8415185 452065 233.3 2012 8 0.000071667 0.02627828 6689457 452065 248.27 2012 9 0.000075833 0.0265544 8907887 453000 254.32001 2012 10 0.000093333 -0.01410401 11047390 452959 232.8931 2012 11 0.000063333 0.00619218 12895966 452959 252.05 2012 12 0.000038333 0.01252873 9389131 454000 250.87 2013 1 0.000061667 0.05414457 11363418 454551 265.5 2013 2 0.000088333 0.00834036 7736797 454967 264.26999 2013 3 0.000063333 0.03529375 8372531 455000 266.48999 2013 4 0.000044167 0.01494684 14536561 455243 253.81 2013 5 0.000029167 0.01907392 10663668 455243 269.20001 2013 6 0.000029167 -0.01503552 9394212 457000 277.69 2013 7 0.000029167 0.05271696 11036007 456884 301.22 2013 8 0.000019167 -0.02572692 10443426 456884 280.98001 2013 9 0.0000125 0.03747036 12366043 458000 312.64001 2013 10 0.000029167 0.03989509 9633022 457734 364.03 2013 11 0.000050833 0.02496603 7965331 457734 393.62 2013 12 0.000056667 0.02613987 8202590 459000 398.79001 2014 1 0.0000125 -0.0299865 9255796 459265 358.69 2014 2 0.0000425 0.04618626 7182660 459894 362.10001 2014 3 0.000025 0.00450117 7790153 460000 336.36499 2014 4 0.000025 0.00167039 7461680 460167 304.13 2014 5 0.000025 0.0202225 5747041 460167 312.54999 2014 6 0.000019167 0.02796136 5566350 462000 324.78 2014 7 0.000019167 -0.02053673 7327822 462036 312.98999 2014 8 0.000020833 0.04020714 5139717 462036 339.04001 2014 9 0.000008333 -0.02513202 8609490 463000 322.44 2014 10 0.000008333 0.02119622 8533427 463006 305.45999 2014 11 0.000008333 0.02115908 5230103 463006 338.64001 2014 12 0.000034167 -0.00362207 6287260 463006 310.35001