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.

Firm Beta $($$ millions$)$

Debt Market Value of Equity

iRobot $1\mathrm{.}01$ $ $0$ $ $3,590$

Middleby's $1\mathrm{.}967837,650$

National Presto $0\mathrm{.}210926$

Newell Brands $1\mathrm{.}1611,97827,470$

Whirlpool $1\mathrm{.}864,55514,750$

a$.$ Estimate an asset beta for Sinaloa Appliance.

Note: Round intermediate calculations and final answer to $3$ decimal places.

IS INCORRECT $1\mathrm{.}046$

Problem $8-23$

You are valuing a project for Gila Corporation using the APV method. You already found the net present value of free cash flows from the project $($discounted at the appropriate cost of equity$)$ to be $$510,000.$ The only important side effect of financing is the present value of interest tax shields. The project will be partially financed by a constant $$1$ million in debt over the life of the project, which is three years. Gila$$s tax rate is $40$ percent, and the current interest rate applicable for the project$$s debt is $8$ percent $($assume this rate is also appropriate for discounting the interest tax shields$).$ Assuming tax shields are realized at the end of each year, what is the APV of the project?

Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. i GOT $$1,342,400$ BUT IT'S INNORRECT