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Cash and Beta Problem In mid-2015, Microsoft Corporation had a market capitalization of $340 billion, $35 billion in debt, and $96 billion in cash. If

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Cash and Beta Problem In mid-2015, Microsoft Corporation had a market capitalization of $340 billion, $35 billion in debt, and $96 billion in cash. If its estimated equity beta was 0.87, estimate the beta of Micro- soft's underlying business enterprise. Assume both debt and cash are risk-free

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