IDX Tech is looking to expand its investment in advanced security systems. The project will be financed with equity. You are trying to assess the value of the investment, and must estimate its cost of capital. You find the following data for a publicly$-$traded firm in the same line of business: By making some realistic assumptions, estimate the project's beta.

The estimated project's beta is

$($Round to two decimal places.$)$

Data table

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[$Debt outstanding $($book value, AA$-$rated$),$$$400$ million$],[$Number of shares of common stock,$80$ million$],[$Stock price per share,$$15\mathrm{.}00$