Boswal Inc. is a manufacturing company. Its shares do not trade publicly, so it has decided to calculate the average beta of a group of public companies in the industry. The following data was collected:

Firm Beta Debt$-$to$-$Equity $(\%)$

River Crossing $1\mathrm{.}3135\mathrm{.}0$

Atlas Manufacturing $1\mathrm{.}2622\mathrm{.}0$

Innovative Technologies $1\mathrm{.}2624\mathrm{.}0$

Hanson Brothers $1\mathrm{.}1410\mathrm{.}0$

West Coast Fabrication $1\mathrm{.}1627\mathrm{.}0$

Average $1\mathrm{.}2324\mathrm{.}0$

Boswal has a debt ratio of $0\mathrm{.}30.$ The industry has an average tax rate of $25\mathrm{.}0\%.$

REQUIRED:

$1.$ Estimate a leverage$-$adjusted beta for Boswal Company.

$2.$ What proportion of its leveraged beta is due to business risk and financial risk?