Jamestown Telecommunications (JT), based in the island nation of South Sensia, is in the process of establishing the countrys first broadband network. JT has a debt-to-equity ratio of 0.90 and a marginal rate of tax 15%. A nearby broadband provider, MegaZone (MZ), has an equity beta of 1.20, with a debt-to-equity ratio of 1.40 and a marginal rate of tax 25%. Based on this information, the equity beta for JTs broadband project is closest to:

A. 0.59

B. 1.03

C. 1.20