One alternative to a regression beta is to use a sector-average beta or bottom-up beta. In computing this sector-average beta, you have to come up with a list of comparable firms. Assume that you are trying to compute the beta for an Argentine steel company. Which of the following is likely to yield the best estimate?

	a.	A market-cap weighted average of betas of 12 Latin American steel companies
	b.	A market-cap weighted average of betas of 85 emerging market steel companies
	c.	A simple average of betas of 85 emerging market steel companies
	d.	A market-cap weighted average of betas of 4 Argentine steel companies