As of September 2012, Google (GOOG) had no debt. Suppose the firm's managers are considering issuing zero-coupon debt due proceeds to pay a special dividend. Google currently has a market value of $231.3 billion and the risk-free rate is 0.28%. Using an implied volatility a 38.60%, answer the following: If Google's current equity beta is 1.16, estimate Google's equity beta after the debt is issued. b. Estimate the beta of the new debt. 16 months with a face value of $165.7 billion, and using the (Note: Make sure to round all intermediate calculations to at least five decimal places.)