You are trying to estimate the beta for InfoSoft, a firm that produces entertainment software.

$$ The stock is currently trading at $ $42$ per share, and there are $250$ million shares outstanding; the firm has $$1$billion outstanding

$$ The average beta for entertainment software firms is $1\mathrm{.}50,$ and that the average

debt$/$equity ratio of these firms is $10\%.($You can assume that the cash balances at these

firms are negligible and that the marginal tax rate is $21\%$ for all firms$)$

Estimate InfoSoft's current beta.