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.
Relever the industry asset beta to reflect Krogers capital structure to estimate an industry-based equity beta for Kroger.
Company	Equity beta	Interest-bearing debt	Market value equity
Sprouts Farmers Market	0.28	$385	$3,270
Supervalu Inc.	1.16	1,475	1,030
Weis Markets	0.58	65	1,410
Whole Foods Markets	0.54	1,051	11,110
Kroger Company	0.31	14,077	27,160

All answers and work should be provided in the Excel.