An unlisted e-commerce firm is attempting to estimate its beta. A comparable conglomerate has the following market value balance sheet:

Assets	Liabilities
Retail assets = $100 billion E-commerce assets = $150 billion	Debt = $125 million Equity = $125 million

We know a few other things about the conglomerate: its equity beta is 1.5, the beta of retail assets is 0.8, and the market value of the debt is priced at the risk-free rate of 4.0%. The market risk premium is 6%. Both firms maintain constant debt-to-value ratios over time.

(a) What is the asset beta of the e-commerce firm? (b) What information would you need to calculate the equity beta of the e-commerce firm?