3. Company XYZ has three operating divisions. As a percentage of total firm value, the firm's operations can be broken down as follows: Operating Division % of Firm Value Media Networks 35% Parks 40% Studio Entertainment 25% Your work is to compute the divisional beta for the Division of Parks. You have gathered the following data: the firm's equity beta is 0.9; the firm's debt beta is 0.3; the firm's tax rate is 28%; and the firm's debt-to-firm-value ratio is 20%. In addition, you have collected the following information on the media networks and studio entertainment industries. Media Networks Studio Entertainment Be Debt-to-firm value Be Debt-to-firm value Company 1 1.20 0.10 Company 1 0 .82 0.70 Company 2 1.10 0.00 Company 2 0.96 0.35 Each pure play in the Media Networks has a tax rate of 30% and a debt beta of zero. Each pure play in the Studio Entertainment has a tax rate of 22% and a debt beta of zero. Given this information, what is the divisional beta (Asset beta) for the Parks division of Company XYZ