IDX Tech is looking to expand its investment in advanced security systems. The project will be financed with equity. You are trying to assess the value of the investment, and must estimate its cost of capital. You find the following data for a publicly-traded firm in the same line of business. Debt outstanding (bookvalue, AA-rated): $397 MillionNumber of shares of common stock: 70 millionStock price per share: $16.36Book value of equity per share: $5.96Beta of equity: 1.16 What is the estimated projects beta? (Round to two decimal places)
This question was answered on: May 23, 2022
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