Question: 1. The treasurer at Corning Inc. is checking the beta he estimated from regressing a time series of stock returns on market returns. He determines

1. The treasurer at Corning Inc. is checking the beta he estimated from regressing a time series of stock returns on market returns. He determines that the expected return on equity for the firm is 14.92%. The current T-bill rate is 5.86%, the expected market return is 14.53% and the market premium is 8.67%. What is the stock's beta?

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