A project requires an initial investment of $500,000 depreciated straight-line to $0 in 12 years. The investment is expected to generate annual sales of $850,000 with annual costs of $700,000 for 12 years. Assume a tax rate of 30%, the market risk premium of 6.0%, and the risk-free rate of 1.0%. If the project has NPV of $341,385.22 and is totally financed by equity (i.e., discount rate = cost of equity), then what is the beta of the project?

A. 0.86

B. 1.33

C. 1.76

D. 2.12