Question: Semitool Corp has an expected excess return of 6% 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 6% for next year. However, for every unexpected 1% change in the market, Semitool's return responds by a factor of 1.2. Suppose it turns out thatthe economy and the stock market do better than expected by 2% and Semitool's products experience more rapid growth than anticipated, thus pushing up the stock price by another 1%. Based on this information, what was Semitool's actual excess return?

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