Johnson company has an equity beta of 1.5, the risk-free rate of return is 3.0 percent, the market return is 14.7 percent, and the pretax cost of debt is 9.4 percent. The debt-equity ratio is .47. If you apply the common beta assumptions, what is the companys asset beta? Please help me solve by showing each step to how you came up with the calculations and answers. If you use a financial calculator, please show me the formula for the calculator. If you use excel, please send me the spread sheet. But I really want to know how to solve using just plain old calculations. I stink at finance problems because I do not understand the formulas. Please help!!!!