Problem $8-24$

Sinaloa Appliance, Incorporated, a private firm that manufactures home appliances, has hired you to estimate the company's beta. You have obtained the following equity betas for publicly traded firms that also manufacture home appliances.

$\backslash$table$[[,,($$ millions$)],[$Firm$,$Beta,Debt,Market Value of$],[$iRobot$,1\mathrm{.}04,$$$0,$Equity$],[$Middleby$\text{'}$s$,1\mathrm{.}99,792,$$$3,740$