need an answer ASAP

Southern Discomfort, Inc. makes soda bottles and is considering diversifying its business by purchasing LuvPet, Inc., a company that makes pet food. Southern's beta is 1.50, and the beta of LuvPet is 1.16. The market risk premium is 11.60%, and the Treasury bill yield is 1.60%, LuvPet is projected to produce cash flows of $35 million in perpetuity. a. What is the appropriate discount rate for valuing LuvPet? (Enter your answer as a percentage rounded to two decimal places.) Discount rate % b. What is the estimated value of the LuvPet purchase? (Enter your answers in millions rounded to two decimal places.) LuvPet value million