Indell stock has a current market value of $ $170$ million and a beta of $1\mathrm{.}50.$ Indell currently has$$ risk$-$free debt as well. The firm decides to change its capital structure by issuing $ $68\mathrm{.}68$ million in additional$$ risk$-$free debt, and then using this $ $68\mathrm{.}68$ million plus another $ $11$ million in cash to repurchase stock. With perfect capital$$ markets, what will the beta of Indell stock be after this$$ transaction?

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Part $1$

The beta of Indell stock after the recapitalization is

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enter your response here. $($Round to two decimal$$ places.$)$