You are given the following information about Company Drake: I. It currently has a market capitalization of $340 million. II. It also has AAA-rated debt of $35 million as well as excess cash and short-term investments of $96 million. III. Its current estimated equity beta is 0.87. Assuming Drake's debt has a beta of zero, estimate the beta of Drake's underlying business enterprise. A 1.050 B 1.055 1.060 D 1.065 E 1.070