2. You are the CFO of a parts company that is expanding into a new construction division. The project will costs $20M and produce perpetual cash flows of $4M each year, starting next year. You have the following information of a publicly traded construction company (MikeInc): 100 bonds outstanding, rated CCC, priced at $20 per bond 100 shares outstanding, priced at $30 per share The company's equity beta is 1.3 The beta of AAA, BBB, and CCC rated debt is 0.05, 0.10, and 0.20, respectively. What is the asset beta of Mikelnc?