$10]$ You are an analyst doing research on Continental Resources $($ticker CLR$),$ an oil driller. CLR$$s debt$-$to$-$equity ratio is $3/7.$ The firm$$s cost of debt is $3\mathrm{.}5\%$ and cost of equity is $13\%.$ Assume that the risk$-$free rate is $3\%$ and the market risk premium is $5\%.$

$1)$ What is the firm$$s current equity beta? What is the firm$$s current debt beta?

$2)$ What is the firm$$s unlevered equity beta? $($i$.$e$.$ what is the firm$$s equity beta if the firm were financed $100\%$ by equity?$)$

$3)$ CLR plans to permanently ramp up its debt$-$to$-$equity ratio in order to take advantage of the tax shield. After raising a substantial amount of bank debt, CLR will have a debt$-$to$-$equity ratio of $1.$ What is the new cost of equity? $($First of all, find the firm$$s new equity beta.$)$