Company	Beta	Debt	Equity	D/E
Black & Decker	1.4	2500	3000	0.8333333
Fedders	1.2	5	200	0.025
Maytag	1.2	540	2250	0.24
National Presto	0.7	8	300	0.0266667
Whirlpool	1.5	2900	4000	0.725
Private Firm's Leverage Ratio		25%
Marginal Tax Rate		40%

You are valuing a private appliance manufacturing firm and need a beta estimate to find their cost of equity. You decide to instead use the comparable firm approach.

1) Use the average beta and average debt\equity ratio to find an unlevered beta for the peer group. Then, use this estimate of the unlevered beta to find the levered beta of your private company.

What are the three determinants of a firm's beta?