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Your manager has asked you to calculate the asset beta for the fast food chain industry consisting of Tim Hortans and Wendy's. Your manager tells

Your manager has asked you to calculate the asset beta for the fast food chain industry consisting of Tim Hortans and Wendy's. Your manager tells you to assume that the debt beta is zero. Using the financial data in the table calculate the industry asset beta, assuming that all involved firms maintain a fixed debt-to-value ratio.

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TimmiesWendysE0.651.10D352E2005V2357

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