Your firm is looking to expand into the coffee shop business. Your firm will finance this new business with equity. You are tasked with determining the beta for this new venture. You find a publicly-traded coffee shop firm, STAR Coffee, that you believe embodies the risk of the new coffee shop business. STAR has an equity beta of 1.31, outstanding debt (considered risk-free) with a market value of $332 million, a share price of $17.27, and shares outstanding of 75 million. Estimate the project's beta. The estimated project's beta is (Round to two decimal places.)