Need ASAP Finance Major

. Indell stock has a current market value of $120 million and a beta of 1.20. Indell currently hasrisk-free debt as well. The firm decides to change its capital structure by issuing $50.99 million in additionalrisk-free debt, and then using this $50.99 million plus another $14 million in cash to repurchase stock. With perfect capitalmarkets, what will the beta of Indell stock be after thistransaction?

The beta of Indell stock after the recapitalization is ______ (Round to two decimalplaces.)