ABOUT TWO FIRMS: The table below has information on the capital structures of two levered firms: North Pole South Pole Debt $3,090,000 $4,000,000 Equity $4,000,000 $3,090,000 The two firms used to have the same betas of their equity, 1.24, when they were still unlevered. Both firms pay a 24 percent tax rate on their corporate income. For each firm, the debt has a beta of zero. ABOUT THE MARKET: The expected return on the market portfolio is 12.7 percent. The Treasury bill rate is 4.7 percent. a. For each firm, find its equity beta. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. For each firm, find the required return on its equity that would correctly reflect the level of market risk. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) a. North Pole South Pole b. North Pole % South Pole %