Suppose you identified three important systematic risk factors given by exports, inflation, and industrial production. At the beginning of the year, a firms stock return is estimated at 9.6 percent and the growth in the three factors is estimated at -1 percent, 2.5 percent, and 3.5 percent respectively. The factor betas are: EX = 1.8, I = .7, and IP = 1. What would be the stock's total return if the actual growth in each of the factors was equal to the expected growth and no unexpected company news occurred?

Answers:	4.6%
	5.9%
	9.6%
	14.6%
	8.7