14. The Excel file C8 Problem_14.xls at www.mhhe.com/higgins8e (Select Student Edition > Choose a Chapter > Excel Spreadsheets) gives information regarding Ametek, Inc., and five industry competitors. Using this information,

a. Estimate the industry asset beta, weighting each company by its proportion of total market value of equity.

b. Relever the industry asset beta to reflect Ametek's capital structure, and to make another (industry-informed) estimate of Ametek's equity beta.