Please use the following information for the next 3 questions. CXC is a private company. The company currently has $50,000 in debt and $50,000 in equity.

Name Debt Equity Stock Price # Shares Beta

Company A 22 40 5 5000 1.5

Company B 20 25 2.5 15000 2.2

Company C 15 15 3.5 100000 1.7

Company D 30 20 10 50000 3

Company E 50 100 8 40000 2

what is the approximate "industry " asset beta? (hint this is the weighted average of all asset betas in the survey)

1.12 .92 .86 1.29