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? (book value,? AA-rated) $367 million
Number of shares of common stock 81 million
Stock price per share $14.05
Book value of equity per share $7.18
Beta of equity 1.34
By making some realistic?assumptions, estimate the? project's beta.
The estimated? project's beta is _______(Answer) (Round to two decimal? places.)