Information about Kroger Company and four industry competitors in 2017 is shown below (dollar values in millions). Estimate the industry asset beta, weighting each competitor by its proportion in the total market value of equity of all four competitors. a. a. The table below estimates the industry asset beta, with each competitor weighted by its proportion of total market value of equity. b. Relever the industry asset beta to reflect Kroger's capital structure to estimate an industry-based equity beta for Kroger. Equity/firm value Asset beta % of Total market value Weighted- asset beta Company Sprouts Farmers Market Supervalu Inc. Weis Markets Whole Foods Markets Kroger Company Equity beta 0.28 1.16 0.58 0.54 0.31 Interest- bearing debt $385 1,475 65 1,051 14,077 Market value equity $3,270 1,030 1,410 11,110 27,160 Company Sprouts Farmers Market Supervalu Inc. Weis Markets Whole Foods Markets Industry asset beta b. Kroger equity/firm value Kroger industry-based equity