North Pole Fishing Equipment Corporation and South Pole Fishing Equipment Corporation would have identical equity betas of $1\mathrm{.}05$ if both were all$-$equity financed. The market value information for each company is shown here:

North Pole South Pole

Debt $ $1,900,000$ $ $3,700,000$

Equity $ $3,700,000$ $ $1,900,000$

The expected return on the market portfolio is $11\mathrm{.}3$ percent and the risk$-$free rate is $3\mathrm{.}2$ percent. Both companies are subject to a corporate tax rate of $21$ percent. Assume the beta of debt is zero.

a$.$

What is the equity beta of each company? $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the required rate of return on equity for each company? $($Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$