Currently, Hendrix Publishing's tax rate is $39\%,$ its beta is $1\mathrm{.}08,$ and it is financed using $29\%$ of debt at a before$-$tax cost of $4\%$ and the remainder equity. The company does not expect any change in its capital structure, but tax rates are expected to fall by $6$ percentage points this year. If the risk$-$free rate is $2\%$ and the market risk premium is $6\%,$ what would be the company's beta $($rounded to two decimal places, e$.$g$.,1\mathrm{.}23)$ after incorporating the lower tax rate? Note that you must first find the unlevered beta prior to estimating the new beta.