You are trying to estimate the levered beta for New Starts Streaming, a niche movie streaming business that focuses on just animated and children's movies. It has increasingly expanded its content arm, making original content for its streaming subscribers, and its current business mix with estimated values in millions is listed below: Movies (Content) Streaming (Subscription) Estimated Value (in $ millions) Unlevered Beta 400 1200 1.2 0.8 The company is trading at its fair value, has no cash and $600 million in debt outstanding. The marginal tax rate is 25%. A. Estimate the levered beta for the company. (2pts) B. Now assume that New Starts Streaming acquires an animated movie company to augment its content business. If the acquisition was at fair value, and was funded by issuing $200 million in new shares and $300 million in new debt, estimate the new levered beta for Navia Streaming, after the acquisition. (You can assume that the animated movie company is in the content business.) (3pts)