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A firm's equity Beta is 1.18, D/E ratio is.40, and tax rate is 30%. If the firm restructures to a D/E ratio of 0.65 and

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A firm's equity Beta is 1.18, D/E ratio is.40, and tax rate is 30%. If the firm restructures to a D/E ratio of 0.65 and maintains the same (dollar) level of debt thereafter, what is the new equity Beta? Do NOT round intermediate work. Round your final answer to 2 decimal places (ex: if your answer is 1.23456, enter 1.23). Margin of error for correct responses: +/-.05

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