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Morgan Stanley has a debt-to-equity ratio of 0.60, a tax rate of 30%. If unlevered, this company has a beta of 0.85, and the cost

Morgan Stanley has a debt-to-equity ratio of 0.60, a tax rate of 30%. If unlevered, this company has a beta of 0.85, and the cost of equity of 8.21%. Assume beta of its debt is 0, what is its beta with the debt-to-equity ratio of 0.60? Round your answer to two decimal places.

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