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 (ie, discount rate cost of equityl, then what is the beta of the project? 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 10%. If the project has NPV of $341,385 22 and is totally financed by equity (ie, discount rate = cost of equity), then what is the beta of the project