Company Z has an equity capitalization of $$50$ million, a beta of $1\mathrm{.}2,$ $$10$ million in cash, and no debt.

The risk$-$free rate is $4\%,$ and the market risk premium is $5\%.$

If Company Z $($from Question $4$A$)$ issues $$20$ million in debt and repurchases stock

What will be the beta of its remaining equity?