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Company Z has an equity capitalization of $ 5 0 million, a beta of 1 . 2 , $ 1 0 million in cash, and

Company Z has an equity capitalization of $50 million, a beta of 1.2, $10 million in cash, and no debt.
The risk-free rate is 4%, and the market risk premium is 5%.
If Company Z issues $20 million in debt and repurchases stock.
What will be the beta of its remaining equity?

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