Question: Semitool Corp. has an expected excess return of 17.5% for next year. However, for every unexpected 1% change in the market, Semitool's return responds by

"Semitool Corp. has an expected excess return of 17.5% for next year. However, for every unexpected 1% change in the market, Semitool's return responds by a factor of 1.19. Suppose it turns out that the economy and the stock market do better than expected by 10% and Semitool's products experience more rapid growth than anticipated, pushing up the stock price by another 2%. Based on this information, what was Semitool's actual excess return? Note: Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05"

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