Jollibee is a fast-growing chain of fast-food restaurants, and the company's management is seeking to calculate its cost of equity. As an initial step, the company intends to use McDonald's beta value of 0.56 as a substitute for its own beta. McDonald's has an enterprise value of about $80 billion and a debt of $15 billion. Furthermore, Jollibee's financial analyst researched the current yield on ten-year US Treasury bonds, which is currently at 4.2%. The market risk premium is approximated to be 5%.

If Jollibee has no debt financing, what is the estimate of Jollibee's beta coefficient if assuming that McDonald’s debt has a beta of 0.20?