Find Beta using covariance

3. A U.S. based MNC has the following two sets of information, one for its domestic operations and one for its global operations: Domestic: Standard deviation of the company's return = 18% pa. Covariance of the company's return with the U.S. stock market returns = 270 Global: Standard deviation of the company's return = 24% pa Covariance of the company's return with the global stock market returns = 144 In addition, the following market information is available: US. stock market risk premium = 12% pa. Standard deviation of the U.S. stock market = 20% pa. The risk-free rate in the US. = 3% pa Expected return on the global stock market = 20% pa. Standard deviation of the global stock market-30% pa. Show whether the cost of equity for domestic operations is higher or lower than that of global operations. Analyze on all levels and explain the difference in the two costs