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Arnold Hesser estimated the beta for United Technologies (UTX) using historical data for the last 60 months. His estimate was a beta of 1.27. Arnold

Arnold Hesser estimated the beta for United Technologies (UTX) using historical data for the last 60 months. His estimate was a beta of 1.27. Arnold then uses an adjusted beta (as recommended in the book) as his forecasted beta. The adjusted beta should be:

A.

1.18.
B.

1.50.
C.

0.94.
D.

1.09.

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