A project is determined to have equal probability of generating $6.00 million annually or $4.00 million annually for six years. The initial investment is $22.10 million. The expected return on Treasury bills is 2.50 % and the market return is 10.60%. What is the highest project beta that will justify acceptance of the project?

a.

0.90

b.

0.86

c.

1.04

d.

4.11

e.

0.69

Please explain how to solve using financial calculator