Consider the following model Rpt-RFt= 01+ By (RMt-RFt) + B2HMLp+ +Ept where Rp: is the return on a professionally managed portfolio P at day t, Re: is the return on the risk-free asset F at day t, Ryt is the return on the market portfolio M at day t, HML, is the high minus low Fama-French factor at day t, and apt is the unsystematic component in Rot. To estimate the model you use monthly data from January 2005 to December 2019. Using Excel, your estimates for the parameters o B, and B2 are 0.05, 0.120, and 0.262, respectively, and you find as P-values 0.071, 0.000, and 0.007 respectively. The estimated R-square is 0.979. 1. What percentage of the variance in the excess returns on portfolio P is due to the excess returns on the market and the high minus low factor? 2. Interpret By and B2. Are these coefficients statistically significant when the level of significance is 5%? 3. Is portfolio P mispriced