Question 3 (2 points): Parcels Co. is a logistics company considering expanding their business by purchasing warehouses in the Midwest. To estimate the value of the expansion, Leslie must estimate the cost of capital and he finds information on comparables in the storage business. Debt Outstanding (market value, risk free) $ 100 million Market value of equity per share $ 5/share Number shares outstanding 60 million Beta of equity 1.2 Based on the information, what is Leslie's estimate for the project's beta? a. 0.60 b. 0.90 c. 1.20 d. 1.60 e. None of the above