The CPI Card Group Inc. made an IPO filing on August 7, 2015 for $100m. Here is a description of the company from Bloomberg Business: CPI Card Group, Inc. engages in designing, producing, personalizing, packaging, and tracking of smart cards. It focuses on providing financial, commercial, and identification card production and related services. The company offers contactless smart card using RFID, RFID stickers, physical access cards, and FOBs, EMV cards, and MicroSD; financial, commercial, and blank cards; microprocessor cards; and memory cards that are used for pre-paid telephone, library, access control, parking, and loyalty programs applications. It also provides packaging customization options that include silver foil, iridescent glitter, canvas, hot foil stamp, dimensional FX, metallic flake, and pearl. In addition, the company offers personalization services, such as daily processing for secure and non-secure card programs; bulk DOD ink-jet printing for card programs; and B2B and B2C card issuance, distribution, and smart card and EMV personalization and fulfillment services. Further, the company provides mailing and fulfillment solutions, such as envelope with card and carriers, greeting card with card and greeting card envelope, self mailers, iron cross mailers, and custom designed mailers; printing of corresponding mailing materials, manufacturing and person of the cards, inline match verification, NCOA data processing, and custom programming; and daily fulfillment, weekly fulfillment, Web based ordering and fulfillment for B2B and B2C, and large direct mail. It serves banking, gift and retail, prepaid, government and security, gaming and entertainment, and loyalty and membership industries in the United States and internationally. The company was incorporated in 1982 and is based in Littleton, Colorado. It has locations in the United States, United Kingdom, and Canada. We know that a stock's beta measures its sensitivity to market movements. We also know that the stock beta is related to the nature of the product sold by a company, especially its price elasticity. Keep in mind, furthermore, that a beta is not just a computed quantity, it's a characteristic of a financial asset, which can be estimated in many ways -- the estimate using stock prices and regression being only one of them. Otherwise, the CAPM could only be used for traded securities, which would make it a lot less useful! What is your best estimate of the beta of CPI Card Group? You can use published estimates, as long as you can explain how those published estimates have been computed. Keep in mind, as well, that the beta is a forward-looking number. Beta estimates using historical information are backward-looking and may or may not be the best estimate of the underlying beta, which measures the future tendency of an asset to move with the market. (As mutual funds note, "Past performance is no indication of future results.") Write up your answer in a Word file using no more than two pages and email it to me by the due date. Make sure to send an Excel file, if you are performing any computations; however, the Word file should be self-explanatory. I should only need to look at the Excel file for clarification of your computations. pls note if you are not able to upload excel file, then you can maybe post a screenshot of the workings